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Cardano’s ADA Up Nearly 10% as Coinbase Adds Staking Feature
Coinbase says there’s about a 3.75% annual percentage yield on staked Cardano
Cardano’s ADA rose to its highest level since about mid-February after crypto exchange Coinbase (COIN) expanded its staking offerings to that cryptocurrency.
- “With today’s launch, Coinbase is offering an easy, secure way for any retail user to actively participate in the Cardano network and earn rewards,” Coinbase said in a blog post.
- The crypto exchange estimated that there will be about a 3.75% annual percentage yield on staked Cardano. After an initial holding period of 20 to 25 days, customers will receive awards to their account every five to seven days.
- ADA was up 9% to $1.17 on Wednesday afternoon. Crypto markets were broadly higher as well, including an 8% gain for solana, and 4.5% advances for bitcoin and ether.
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
