Binance.US Has Launched Cardano Staking (ADA)

0
128
Cardano iog

Binance US, the US arm of the world’s largest crypto exchange, announced that customers can now stake their Cardano (ADA) on the platform to earn up to 6.1% APY at launch, with no unstaking period during which users must keep their assets locked to earn rewards.

“Customers can now stake Cardano (ADA) and earn up to 6.1% APY at launch. Get paid weekly when you stake ADA and unstake anytime to access your funds in an instant — with no unstaking period,” the leading crypto exchange writes in its announcement.

Users can stake as little as 0.01 ADA and as much as 4,400,000 ADA. Cardano’s ADA joins other assets available for staking on the exchange, including AUDIO, AVAX, BAND, BNB, ATOM, LPT, MATIC, DOT, SOL, and GRT.

Read also: Cardano Outranks Bitcoin Among the World’s Top Intimate Brands

The Binance Listing

The United States is a victory for ADA. Notably, with over $278 million in trading volume in the last 24 hours, the exchange is the third largest in the United States, trailing only Kraken and Coinbase. It is also well-known for its security and low fees.

It is worth noting that Cardano received staking support from Coinbase in March. At the time of its launch, the leading exchange offered users a 3.75% APR. Notably, the announcement caused the asset price to rise above $1 from around $0.8.

It is worth noting that Cardano is on the verge of a significant upgrade known as the Vasil hard fork. Cardano upgrades have historically resulted in bullish price movements and increased demand across exchanges. In addition, ADA’s latest listing for staking on Binance.US, and before that, Coinbase, indicates that demand for the asset is increasing in the United States, where it already has a strong following.

Related article: Cardano Tops the List of Top Brand Intimacy 2022, Dwarfing Bitcoin

Notably, sentiment toward the cryptocurrency network has grown increasingly positive, with Santiment Feed reporting that it has reached levels last seen in March. Furthermore, as previously reported, the network was named the top crypto brand in terms of brand intimacy.

Cardano is trading at $0.4504, up 0.81% in the last hour but down 2.6% in the last 24 hours.