Cardano (ADA) update: Yoroi mobile staking, ADA/USD trading on Binance.US

Cardano (ADA) update: Yoroi mobile staking, ADA/USD trading on Binance.US

Cardano’s native cryptocurrency ADA has just gotten new use cases. Yoroi, the official Cardano wallet, has announced that its Android mobile app now supports staking on the Shelley testnet, while ADA/USD trading has just been enabled on the Binance.US exchange.

Android users can now stake ADA from their Yoroi Wallets

In line with its ambitious expansion plans, Cardano has announced new use cases for its native cryptocurrency, ADA. According to an update from Yoroi, the official Cardano wallet, users will now be able to stake ADA on the Shelley Incentivized Testnet directly from their mobile wallets.

This feature is only available on the Android Yoroi mobile app, the company said, adding that the iOS app is currently being reviewed by Apple and should be released shortly.

While enabling staking on mobile will certainly make it convenient for more users, Yoroi noted that only those that held ADA during the Shelley testnet snapshot on Nov. 29, 2019, will be able to stake their funds.

Binance.US introduces ADA/USD trading could further Cardano’s latest rally

While staking is still at its earliest stages, ADA trading is becoming increasingly popular. The latest major exchange to list the coin was Binance.US, the U.S.-only arm of Binance, one of the largest cryptocurrency exchanges in the world.

The exchange announced the listing last week, saying that ADA/USD and other trading pairs have become available on the Binance.US app. The listing is in line with Cardano’s expansion plans—earlier this month, Charles Hoskinson, the CEO of IOHK, announced that the company was negotiating with several big players in the industry to list ADA.

Introducing ADA/USD pairs to U.S. traders could further fuel the coin’s massive rally. ADA has seen an incredible 103 percent YTD growth following a rather stagnant Q4 2020.

Graph showing ADA's price from Jan. 01, 2020 to Feb. 12, 2020
Graph showing ADA’s price from Jan. 01, 2020 to Feb. 12, 2020. (Source: CryptoSlate ADA)

The coin has seen it’s price spike more than 11 percent in the past 24 hours, jumping from $0.062 to $0.069 in a matter of hours. There doesn’t seem to be a significant consolidation any time soon and the coin is expected to continue its upward trajectory in the following days.

Graph showing ADA's price on Feb. 12, 2020
Graph showing ADA’s price on Feb. 12, 2020. (Source: CryptoSlate ADA)

Cardano | ADA

Updated: Feb 13 at 3:57 am UTC

Cardano, currently ranked #11 by market cap, is up 8.96% over the past 24 hours. ADA has a market cap of $1.83B with a 24 hour volume of $223.83M.

Chart by CryptoCompare

Cardano is up 8.96% over the past 24 hours.

Trade Cardano (ADA) on Binance.US and get $15 when you complete $100 in trading volume

Sign up for Binance.US CryptoSlate will earn a small referral fee when you join.
Posted In: , Altcoins, Price Watch, Technology
Invest with AMFEIX

Like what you see? Subscribe to CryptoSlate

Get our daily newsletter containing the top blockchain stories and crypto analysis straight to your inbox.

Sign up to stay informed
Priyeshu Garg

Priyeshu Garg

Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

View author profile

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.