Cardano (ADA)
$0.129476 (-9.35 %) View coin
News
06 July 2020

Coinbase Custody will support Cardano staking later this year

At Cardano’s Virtual Summit last week, development firm IOHK (Input-Output Hong Kong) announced it had partnered with Coinbase Custody. The exchange’s custody arm agreed to support ADA storage and staking later this year. IOHK expects Cardano’s Proof-of-Stake (PoS) protocol, called Shelley, to launch by the end of July, with inflation rewards arriving in mid-August.

ADA is up 180% over the last 90 days. The appreciation could be the result of pent up demand for Shelley's launch and ADA staking.

Source: Messari Portal

Why it matters: - Coinbase Custody support may foreshadow a listing Coinbase’s retail exchange, which is the most popular crypto on-ramp in the U.S. The partnership, therefore, allows Cardano to increase its exposure, especially within the U.S. market. - It’s hard to ignore how Tezos’ price reacted last year to a flurry of exchanges announcing support for XTZ staking rewards. Cardano could be in a similar position this year. Like Tezos, Cardano sports an active community, support from a well-funded foundation and development team, and similar network characteristics (from a high-level perspective). However, while staking is effective at bootstrapping participation, it cannot continue to drive network value if demand for the token outside of staking remains limited.

Cardano completed its long-awaited Shelley hard fork today, transitioning its blockchain from a federated network managed primarily by the Cardano Foundation to a community-run protocol. The new Shelley mainnet introduces Cardano’s proposed Proof-of-Stake (PoS) layer, which allows users to contribut...
Newsletter
27 July 2020
3 coins to keep an eye on | Issue #88
The past week brought some signs of life to Bitcoin. The price climbed over 11% from its lows to its highs before closing almost 8% higher than the week before. Meanwhile, the altcoin marketcap surged almost 15% alongside Bitcoin from $103 billion to $118 billion by the weekend. While we wait to see if this week brings ...
Newsletter
08 June 2020
3 coins to keep an eye on | Issue #81
Last week, Bitcoin managed to close over the monthly level at $9,676 after covering a 12.5% range from low to high.  The 3.2% higher close came after rejecting higher timeframe levels, leaving some speculating that this was a stop run before a retrace. In contrast, others insist that a bullish breakout is imminent. ...

3 coins to keep an eye on 👀