ADA Price Rises 2.5% as eToro Supports Cardano Staking
ADA, Cardano's native token, is nearing the $0.9 mark following a price increase supported by eToro. The rally was influenced by:
- eToro launching Cardano staking services for U.S. customers on Sept. 29, alongside Ethereum and Solana.
- Users placed in reward tiers from Bronze to Diamond earn between 45% and 90% rewards.
- ADA's price increased by 2.5% to $0.853, outperforming the broader crypto market's 2.33% rebound.
- Market observers note that staking reduces liquid supply and promotes long-term holding.
Additional factors contributing to ADA's growth include:
- Cardano pioneering MembersCap’s tokenization reinsurance fund, MCM Fund I, boosting its price to $0.8233.
- Inclusion in Hashdex's Nasdaq Crypto Index U.S. ETF, alongside major cryptocurrencies.
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