Despite SEC Troubles, Kraken’s Trading Volume Climbs Double Digits

Kraken’s generated trading volume for the past 24 hours increased by almost 15%.

The surge contrasts with the company’s issues prompted by the recent SEC investigation and the consecutive termination of staking services.

Data extracted from CoinMarketCap and CoinGecko revealed that Kraken’s 24h trading volume stands at around $757 million, or a 14% increase.
Based on numerous factors, including average liquidity, volume, and Web traffic, the company collects a score of 7.4 (out of 10), making it the third most-trusted crypto platform after Binance (9.9) and Coinbase (7.8). It’s worth noting that this comes from CMC, which is owned by Binance.
The latest figures indicate that its performance has not been harmed by the SEC’s recent crackdown, at least for now.
The American regulator probed Kraken over possible violation of rules when offering securities as staking services to US consumers. Gary Gensler – SEC’s Chairman – previously urged all cryptocurrency entities to register with the watchdog.
The agency’s actions against staking services forced Kraken to terminate such offerings. The exchange also paid $30 million in disgorgement, prejudgment interest, and civil penalties.
Despite the problems, it has not reported any wave of withdrawal requests, hinting that users remain unfazed by the dispute with the American regulator at the moment.
However, the news negatively affected the cryptocurrency sector. The global crypto market cap dropped by 4% to 1.07 trillion (GoinGecko’s data), while BTC plunged below the $22,000 price tag.
Leading altcoins, such as ETH, BNB, ADA, DOGE, and SOL, have also headed south.

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