Cardano (CRYPTO: ADA) traded 12.3% higher at $1.09 over 24 hours late on Wednesday. The token has crossed the psychological $1 barrier for the first time in more than a month.
Cardano Price Performance
| Time-frame | %Change (+/-) |
|---|---|
| 24-hour | +12.3% |
| 24-hour against Bitcoin | +11.7% |
| 24-hour against Ethereum | +11.3% |
| 7-day | +31.3% |
| 30-day | +29.8% |
| YTD performance | -20.1% |
See Also: How To Buy Cardano (ADA)
Why Is It Moving? Cardano was founded by Charles Hoskinson, who is also a co-founder of Ethereum ETH/USD. It is the native token of its namesake proof-of-stake blockchain platform and seventh-largest cryptocurrency by market capitalization.
Cryptocurrency exchange Coinbase Global Inc. COIN said Wednesday is now offering staking for Cardano as part of the company’s efforts to offer more ways for customers to earn crypto rewards.
Coinbase already provides staking services for some other cryptocurrencies including Ethereum, Algorand, Cosmos and Tezos.
In addition, Cardano developer Sebastian Nagel announced the release of the first version of the hydra-node that can connect to the public Cardano testnet. This marks a major milestone for Cardano’s Layer 2 hydra solution.
Meanwhile, blockchain intelligence firm IntoTheBlock noted that large holder addresses are increasingly continuing to accumulate Cardano.
Read Next: Bitcoin, Ethereum, Dogecoin Hold Firm Even As Equities Slide: Is It Time To Take Profits?
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