Where is Cardano price headed next after ADA staking goes mainstream

Sygnum Bank expanded bank grade staking to include Cardano, alongside Ethereum, Internet Computer and Tezos.
In a pro-Cardano move, Ledger integrated 100 more Cardano tokens into Ledger Live.
Analysts predicted a 40% rally in Cardano as the altcoin makes strides ahead of the Vasil hard fork.

Ekta Mourya FXStreet

Swiss digital bank Sygnum announced that it is now offering Cardano staking alongside Ethereum and other altcoins enabling users to earn interest from their staked ADA. Crypto security firm Ledger announced support for 100 Cardano tokens to its wallets, fueling bullish sentiment among holders.

Also read: Sell the news after Cardano’s Vasil hard fork delay?

Sygnum adds Cardano to bank grade staking program

Swiss Bank Sygnum announced that it has expanded its bank-grade staking offering with the addition of Cardano. The bank’s clients can now conveniently and securely store the eighth largest cryptocurrency by market capitalization and securely stake it through Sygnum’s institutional-grade banking platform.

Clients can generate staking rewards through Sygnum’s Cardano staking, which includes other leading proof-of-stake protocols like Ethereum 2.0 (ETH), Internet Computer (ICP) and Tezos (XTZ).

Sygnum chose Cardano for its meticulous and thorough peer-reviewed processes, as the third generation blockchain platform implements evidence-based updates to its chain.

News: Sygnum Bank expands bank-grade staking portfolio with the Cardano blockchain’s native cryptocurrency, ADA

Read the full announcement here https://t.co/WlJkJ7Q20I
— Sygnum Bank (@sygnumofficial) August 2, 2022

100 Cardano assets now supported by Ledger Live

Crypto security developer Ledger Live announced the addition of 100 Cardano assets to its platform. Ledger Live has over 4 million users, and extending support for Cardano assets is indicative of a bullish outlook on the blockchain network.

More great news for the @Cardano community - we’re integrating 100 more Cardano tokens into Ledger Live! $WMT, $DANA, $ADAX and more are all available to manage from the security of Ledger Live + your Nano.

Check out the full list here: https://t.co/2sOX1sPLUb pic.twitter.com/T9ylJ2TG2M
— Ledger (@Ledger) July 28, 2022

Cardano is ready for 40% rally, say analysts

RektCapital, a crypto analyst and trader, identified a breakout in Cardano price from a falling wedge price pattern. Cardano needs to reclaim $0.515, its mid-2017 resistance before a 40% price rally can occur. The analyst has set an eventual target of $0.720 for Cardano.

ADA-USD price chart

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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