USA’s largest cryptocurrency exchange Coinbase, which has recently started to give bullish signals again. cardanoto (ISLAND) He contributed.
Coinbase has signed many different listings recently, and the step taken now may not have surprised investors for this reason.
Cardano Can Be Staked
The exchange stands out not only with its listings, but also with its staking rewards and support for platforms for staking.
The news that came just at a time when the Cardano price started to rise again may have made ADA investors more happy. In the statement made by Coinbase, it was stated that staking rewards for ADA will now be given and ADA can be staked directly from the platform.
While explaining the decision, senior product manager Rupmalini Sahu drew attention to the fact that ADA is among the top 10 cryptocurrencies by market capitalization and the “flexible, sustainable and scalable” blockchain design.
This design uses smart contracts similar to Ethereum and Solana to enable decentralized finance, NFTs and other activities on the network.
Cardano, an alternative L1 network, has been advancing for years thanks to this competition, and now Coinbase has also received staking rewards with a 3.75% annual return.
ADA price is one of the most active in the last period. While ADA is up 13% in 24 hours, it is testing the $1.10 resistance. Breaking this could test $1.40 in the medium term and ADA could start a fresh rally.