- 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.
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
— Sygnum Bank (@sygnumofficial) August 2, 2022
Read the full announcement here https://t.co/WlJkJ7Q20I
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.
— Ledger (@Ledger) July 28, 2022
Check out the full list here: https://t.co/2sOX1sPLUb pic.twitter.com/T9ylJ2TG2M
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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.