ADA is up 13% over the day following news that Coinbase is now offering staking for Cardano’s native cryptocurrency.
The price of ADA, the native cryptocurrency of the Cardano blockchain, soared to a seven-week high of $1.13 on Thursday, a level not seen since early February.
The latest price action comes with increased trading volumes, extending ADA’s weekly gains to nearly 35% to make it the best performing cryptocurrency in the top ten list over the past seven days, according to CoinMarketCap.
The boost in the price of ADA can likely be attributed to the news that Coinbase, the largest crypto exchange in the U.S., is now offering staking for the asset.
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