Over 24 hours late on Wednesday, Cardano (CRYPTO: ADA) traded 12.3% higher at $1.09, a gain of 12.3%. For the first time in almost a month, the token has surpassed the psychological $1 threshold.
Charles Hoskinson, who is also a co-founder of Ethereum, founded Cardano. It is the seventh-largest cryptocurrency by market capitalization and the native token of its eponymous proof-of-stake blockchain platform.
Coinbase Global Inc, a cryptocurrency exchange, announced on Wednesday that it is now introducing Cardano staking as part of its efforts to provide clients with more options to earn crypto rewards.
Coinbase already offers staking services for Ethereum, Algorand, Cosmos, and Tezos, among other cryptocurrencies.
In addition, Cardano developer Sebastian Nagel announced the release of the first version of the hydra-node that can connect to the public Cardano testnet. This marks a major milestone for Cardano’s Layer 2 hydra solution.
He said “This is our first version of hydra-node which can connect to the public Cardano testnet – version 0.4.0!
It’s still a bit tricky to set up, there be dragons and footguns. We aim to improve on the situation with 0.5.0 and many more releases to come.”
Meanwhile, blockchain intelligence firm into the Block noted that large holder addresses are increasingly continuing to accumulate Cardano.
The company said “$ADA soars by 10% over the last 24hours as the accumulation patterns continue the addresses by holding indicator show an increasing accumulation across the board in the different brackets. Addresses holding 10-100 and 100k-1m ADA increased their balance by 12% and 11% in 30 days”
