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
362
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?
Market
Due to supply shortages, the asset’s pre-market exchange rate was climbing above $1000
Dec 16, 2024
Incidents
Reports about the hacking of the exchange with calls to withdraw assets began to spread on December 13
Dec 13, 2024
Crypto regulations
Stablecoins from issuer Circle will not be affected by the changes
Dec 12, 2024
Crypto regulations
The platform will launch after meeting the preconditions of the local exchange authority
Dec 9, 2024
Market
The $1,1 billion figure was reached after the bitcoin correction
Dec 6, 2024
Crypto regulations
By early January, all open positions and loans of local users will be closed and repaid automatically
Dec 5, 2024