Coinbase added Cardano staking capability. Altcoin up in price by 18%
After the exchange’s announcement, the ADA token rate rose by 18% to $1,14

24.03.2022 - 11:55
410
1 min
0
What’s new? The cryptocurrency exchange Coinbase has announced on its blog that it has added a staking option for Cardano (ADA). The exchange’s senior product manager Rupmalini Sahu explained this decision, pointing to the coin’s high market capitalization and its “flexible, sustainable, and scalable” blockchain. Following the Coinbase announcement, the Cardano exchange rate rose by 18% to $1,14.
What does the exchange offer? Because the blockchain is based on the Proof-of-Stake consensus mechanism, staking can be difficult for the average user. Coinbase offers to take over the basic process and charge a fee for it. The exchange estimates an annual staking return of 3,75%, which will be distributed every five to seven days.
What is Cardano? The open-source blockchain was launched in 2017. The ADA token is among the top ten coins by market capitalization of $36,32 billion, according to CoinGecko. We covered Cardano in detail in our article.
Useful material?
Crypto regulations
In turn, the European Commission said that the bank misinterpreted the norms of the law, and in its current form it is already capable of protecting the bloc’s economy
Apr 23, 2025
Market
The product will allow professional investors to track the price of the altcoin without having to hold it directly
Apr 18, 2025
Market
Previously, the PumpFun team launched their decentralized exchange to preserve liquidity in their ecosystem
Apr 17, 2025
Technologies
The company predicts that devices powerful enough to crack a 256-bit key could be available in the next 10 years
Apr 17, 2025
Mining
The collaboration aims to increase decentralization of the blockchain
Apr 15, 2025
Market
The feature will later be available to customers in Europe and Australia
Apr 15, 2025