By Tobi Loba
Binance, the largest cryptocurrency exchange by trading volume has reportedly launched staking for Cardano (ADA) and Cosmos (ATOM).
The new development was passed across via the official Twitter handle of Binance. According to the report, ADA and ATOM holders can start staking their tokens through Binance (BNB) instruments beginning from Wednesday 10th January 2021.
Read Also: Cardano Seals Partnership with Coinbase to Allow Users to Store and Stake ADA
As the report stated, the estimated rewards for Cardano (ADA) are set at 21.79 percent, while Cosmos (ATOM) staking is rewarded with 24.79 percent yields.
Binance tweeted, “Staking Launches ADA Cardano and ATOM Cosmos Staking with Up to 24.79% APY.”
#Binance Staking Launches $ADA @Cardano and $ATOM @cosmos Staking with Up to 24.79% APY
➡️ https://t.co/mC1fIHZ010 pic.twitter.com/0Yi2A131nZ
— Binance (@binance) February 10, 2021
Initially, offers include 15-day staking programs. Cardano holders can stake between one and 1,000 ADA, while Cosmos holders can stake between one and 50 coins
Read Also: Kieran Kelly States Unique Feature That Will Keep Aiding the growth of Cardano and Polkadot
Cardano (ADA) Is the Most Popular Asset for Staking
According to Staking Rewards, the independent analytical dashboard, Cardano (ADA), the fourth-largest digital currency by market cap, is the most popular asset for staking based on net staked value.
For Cardano (ADA), this indicator is more than $18.4 million, or over 70% of ADA market capitalization that currently stands at around $26.7 billion.
Regarding this metric, ADA is followed closely by Polkadot (DOT) and Avalanche (AVAX). Cosmos (ATOM) is the seventh most popular digital currency in terms of net value staked.
Cardano (ADA) and Cosmos (ATOM) in the Market
Cardano (ADA) was among the best performers on Wednesday as bulls pushed its price beyond 25%. Since it displaced XRP from 4th position in the market, it has not relented from its upside trend.
At the time of filing this report, ADA is trading at $0.8549, with a relatively 27% price upsurge in the last 24 hours.
Read Also: Another Elon Musk’s Tweet Pumps Dogecoin Closer to Displacing ADA, XRP; Now 8th Largest Coin
On the other hand, Cosmos (ATOM) is priced at $14.73, with about a 4% price upsurge based on 24 hours estimation.
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