eToro Launches Staking for Cardano ADA. Cardano ADA Staking is part of the decentralized era that the proof-of-stake protocol introduces. eToro will execute the staking process for all its users who own Cardano ADA tokens without additional charges.
Yoni Assia said;
“eToro has a large and active crypto community and our goal is to ensure that we are always offering them the very best products and services. We are proud to be one of the first regulated platforms to offer a staking service for Cardano and will be further expanding our staking service in the coming months.”
While the Cardano ADA staking has been a popular subject in the blockchain industry over the last few months, it isn’t the only token that can be staked. Major exchanges like Binance, Bitfinex, and Coinbase have been staking other tokens as well. They have also announced compatibility for staking ADA.
Shortly after the announcement was made, the Cardano ADA token gained significantly against the USD. At the time of writing, the price of the token was $0.102324. It is up by 3.86% against the USD and up by 2.12% against Bitcoin BTC. The trading volume over a 24 hour period was $618,812,841 and the market capitalization was $3,183,562,325. The token has managed to retest the $0.1000 level after losing it yesterday.
- eToro Now Offers Staking for Cardano ADA and Tron TRX
- Cardano ADA Gains Momentum Moving Above the $0.1000 Level Once Again
- New CEO of the Cardano Foundation Says that Tech Companies Pose More Threat to Cardano Than Blockchain Firms
Since the successful completion of the Cardano Shelley hardfork, exchanges across the globe have been announcing support for Shelley staking. Today, eToro announced that it now offers staking compatibility for eToro. This is good news for Cardano ADA since eToro is one of the best multi-asset brokerages in the world.
They announced the support for Cardano ADA and Tron TRX staking in the same press release. Those who participate in staking Cardano ADA on eToro will be able to earn rewards for their holdings. These rewards are similar to the interests you’ll get in fiat currency when you keep money in the bank.
New CEO of the Cardano Foundation Says that Tech Companies Pose More Threat to Cardano Than Blockchain Firms
In our Cardano news yesterday, we wrote about the incoming CEO of the Cardano Foundation, Frederik Gregaard. During an interview with Cointelegraph, Gregaard said that he doesn’t believe that Cardano isn’t facing competition from other blockchain firms. He believes that the real competition for Cardano will come from existing mega tech companies that take away digital sovereignty from the people. In his words;
“I think the biggest competitor, it’s really the largest technology companies today around, the large tech platforms such as Google, Amazon, Tencent, Alibaba, those kinds of players. An addictive, mental, manipulative technology environment — that is where social media is. It’s not just a tool waiting to be used, it has its own goals.”
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.