Cardano (ADA) was one of the fastest rebounding altcoins after the multi-month downtrend in March, when the total market cap took back $2 trillion. The PoS Blockchain giant is exploding in user numbers and stakes with a series of partnerships and promotions. Here are the current developments…
Cardano (ADA) has exploded in staking volume
With Coinbase, the public cryptocurrency exchange offering staking for Cardano (ADA), the staking value of the seventh largest cryptocurrency by market capitalization increased tremendously. According to data compiled by Cardano Daily from Stake Rewards, a leading data provider for stake and crypto growth pools, Cardano is now ranked fourth among the popular tier-1 blockchains.
In a recent blog post, the Milkomeda Foundation is directly addressing Cardano. announced the release of C1, an Ethereum Virtual Machine (EVM) compatible side chain. Experts describe the rollout of the tier 2 solution as a “crucial moment”. Thanks to this side chain, users can now seamlessly move assets between the two Blockchains, making it possible to run popular Ethereum-based dApps on top of Cardano.
WisdomTree launches crypto ETPs for Solana, ADA, and Polkadot in Europe
In another development, Investment firm WisdomTree has announced another launch of crypto exchange-traded products (ETPs) in the European market. released the language. According to the press release, new ETPs covering Solana (SOL), Cardano (ADA) and Polkadot (DOT) were listed on the Swiss exchange SIX and Börse Xetra on Tuesday. Euronext exchanges in Paris and Amsterdam will add them at the end of the month.
Following the above developments, ADA has also been showing an increase in users’ interest recently. What we quoted as Kriptokoin.com has increased Cardano’s staked volume by over 70% in one day, with the spike in price as well as the willingness of many individual and institutional clients to take advantage of ADA staking. Simultaneously, the ADA price increased its weekly gains by over 80% in the month of March. The CoinGecko chart below shows the performance of ADA in different timeframes.
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