Cardano News Today – Cardano and Coinbase Team Up to Allow Users Store and Stake ADA Tokens – July 4th, 2020

  • Cardano ADA is Currently the Hottest Token in the Market Thanks to Shelley, and Coinbase Partnership
  • Cardano ADA Continues to Surge, Moves Higher Against the USD With Higher Highs to Come

Cardano News Today – Cardano is still the star of the cryptocurrency market as it has been since the beginning of the year. Yesterday, Coinbase announced that its users will be able to store and stake ADA tokens on the platform. The announcement came right after the successful implementation of the Cardano Shelley code on the mainnet. Coinbase Custody is the cold storage arm of Coinbase that provides custody solutions for institutional investors. Before now, Coinbase Custody didn’t provide this service for Cardano ADA.

Cardano News Today – Cardano Custody Now Provides for Services for Cardano ADA

By partnering with Coinbase Custody, IOHK has paved a way for Cardano ADA users to keep their Cardano tokens in the cold storage. While this service will be beneficial to ADA holders, it’s not going to be available until this autumn when staking rewards on the Shelley mainnet become available to the public. About two days ago, the Cardano Shelley mainnet launch was announced. The blockchain community will finally know if the promises of scalability and decentralization will come true.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.144

During the announcement about the new custody agreement, Charles Hoskinson said; “With Cardano, we believe we can create a revolutionary solution which will be able to offer access to finance and investment to swathes of the population who have previously been shut out of the system. IOHK will be able to provide institutional-grade storage solutions to its community, without compromising their ability to participate in the network.”

In our Cardano news yesterday, we talked about how the Cardano development team launched a $20 million development fund in celebration of the successful launch. The fund was announced during Cardano’s virtual summit. They announced that the fund would be launched in partnership with Wave Financial Group. They also announced the launch of Atala PRISM.

Cardano News Today – Cardano ADA Price Continues to Surge Against the USD

As the Cardano development team is recording progress, the Cardano ADA token is also moving higher against the USD. The token has moved up by more than 150% against the USD since the beginning of the year. The token is currently trading at $0.098892. It is up by 4.80% against the USD and up by 5.34% against the USD. The trading volume over a 24 hour period is $486,750,584 and the market capitalization is $2,563,986,213. At this rate, the token will move as high as $0.1100 near-term.

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.

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