Why Is Ethereum Killer Cardano Surging So High Lately?

As we all experienced last week, the crypto market experienced one of the most brutal corrections in its history, according to data from CoinMarketCap.

With a few exceptions, the price of most cryptocurrencies fell by double-digit percentages. Bitcoin, the flagship cryptocurrency, fell by more than 15% at one point and is currently trading below $30,000. When Bitcoin fails, the entire market crashes with it with the likes of Mana, Sand, Solis, and even the surging Ape experiencing downtrend. However, one cryptocurrency stood out as an outlier, surpassing its prior all-time high as the rest of the market continued to decline – Cardano (ADA). Coinbase, a major cryptocurrency exchange, revealed in a recent notice that it has launched staking possibilities for ADA.

Reports prove that Cardano users stake their ADA holdings to validate network transactions and create new coins.

This gained traction since the original Proof-of-Work (PoW) blockchain concept was deemed too energy-intensive. Cardano is a cryptocurrency that rewards users for validating transactions.

People who want to stake ADA on Coinbase will be pleased to learn that the company has indicated its intention to help them. According to the promise, staking ADA on Coinbase yields a 3.75% annual percentage return. The idea is that Cardano may be safely kept in a Coinbase wallet, and the provider will stake it on the user’s behalf. Source: https://coinquora.com/why-ethereum-killer-cardano-is-surging-so-high-lately/