Cardano

Cryptocurrency

Bitcoin

Rewards

<div class="finbold">
 <p class="paragraph">Cardano (ADA) is up 40% year-to-date, of which 31% were accrued in October alone. This results from a growing demand for its native token that investors can stake in exchange for staking rewards.</p>
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 <p class="paragraph">Notably, Cardano is the third-largest cryptocurrency by Staking Market Cap, according to data from <em>StakingRewards.com. </em>As of November 7, there is $7.94 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> at <a rel="noopener noreferrer nofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a> in Cardano’s network, for a total of 22.98 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a> ADA tokens locked by validators and delegators in the protocol.</p>
 <p class="paragraph">With a market capitalization of $11.83 <a rel="noopener noreferrer nofollow" title="billion" href="https://thebittimes.com/tag/billion.html">billion</a>, 63% of all ADA in existence are locked into the protocol’s <a rel="noopener noreferrer nofollow" title="staking" href="https://thebittimes.com/tag/staking.html">staking</a> system. These validators are expected to be rewarded yearly at 3% of the <a rel="noopener noreferrer nofollow" title="staked" href="https://thebittimes.com/tag/staked.html">staked</a> amount. However, with a “Real Reward Rate” — adjusted by Cardano’s supply inflation — of 0.38% per year.</p>
 <p class="paragraph">Nevertheless, ADA staking is trending with a surge of 54% in the last 24 hours. Following an even higher trading volume trend increased by 103% in the same period.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="537" src="https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp" alt="Stake ADA stats" class="wp-image-136115" srcset="https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp 1024w, https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp 300w, https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp 768w, https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp 1536w, https://cdn.thebittimes.com/images/2023/11/08/93fde32faf9e301dce1f20683298e155.webp 1944w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Stake ADA stats. Source: <em>Staking Rewards (Cardano)</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-cardano-price-analysis">Cardano price analysis</h2>
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       <h3 class="font-bold leading-6 " id="what-s-next-for-cardano-as-2-billion-flows-into-ada-market-cap-in-a-week">What’s next for Cardano as $2 billion flows into ADA market cap in a week?</h3>
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 <p class="paragraph">Meanwhile, Cardano’s monthly chart reflects the growing demand for staking in a bullish uptrend. ADA is trading at $0.34 by press time, going as high as $0.37 on November 6, which rendered the token a 4.3% loss intraday.</p>
 <p class="paragraph">Moreover, Cardano has accumulated gains of 16% in the week as its capitalization surged by $2 billion. In the meantime, ADA is trading close to its price of one year ago at $0.40 per token. This zone marks an important resistance that must be broken for investors to see higher levels.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/08/8ec1e195d26ab8d691aff4aa53e7b903.webp" alt="ADA 1-month price chart" class="wp-image-136116" srcset="https://cdn.thebittimes.com/images/2023/11/08/8ec1e195d26ab8d691aff4aa53e7b903.webp 1024w, https://cdn.thebittimes.com/images/2023/11/08/8ec1e195d26ab8d691aff4aa53e7b903.webp 300w, https://cdn.thebittimes.com/images/2023/11/08/8ec1e195d26ab8d691aff4aa53e7b903.webp 768w, https://cdn.thebittimes.com/images/2023/11/08/8ec1e195d26ab8d691aff4aa53e7b903.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ADA 1-month price chart. Finbold
  </figcaption>
 </figure>
 <p class="paragraph">Cardano’s ability to break the $0.4 zone will depend on whether demand can continue to grow in its ecosystem.</p>
 <p class="paragraph">Essentially, the rising trend for Cardano staking is a good sign that investors are not willing to sell but rather to stake their acquired ADA. Further news and developments might influence this cryptocurrency’s performance in the following weeks.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-staking-surges-by-54-to-8-billion-in-staked-ada-tbt69407.html">https://thebittimes.com/cardano-staking-surges-by-54-to-8-billion-in-staked-ada-tbt69407.html</a></p>

Cardano staking surges by 54% to $8 billion in staked ADA

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