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Cardano (ADA), the proof of stake blockchain conceived in 2017 by Ethereum co-founder Charles Hoskinson, surged more than 32% over the past seven days and is currently priced at $1.18 at the time of writing, according to CoinMarketCap.com. Several factors last week helped drive that price including the fact that total value locked has exceeded $300 million; Hoskinson’s prediction that thousands of decentralized apps will soon join the ADA network; as well as news from Coinbase that it will stake Cardano.
Last week, Coinbase announced on its blog site that it was adding ADA as a staking option to its crypto exchange. According to the announcement, Coinbase decided to include Cardano to its interest-bearing portfolio because ADA is a top-10 crypto asset based on market cap and it has a unique blockchain design.
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