Monday, May 10, 2021

Cardano Treasury Hits $189 Million, Now More than Ethereum Treasury; ADA Is Coming To Celsius

As a report has it, the Cardano (ADA) treasury has been on an increase on a daily basis, hitting a milestone in the process. Another development also says ADA is on the verge of being added to Celsius, a platform where users earn, borrow, and pay on the blockchain.

Cardano (ADA) Treasury Hits $189 Million, Beats Ethereum’s

This new development was shared with the community by a supposed Cardano enthusiast identified on Twitter as Rick McCracken.

Read Also: Cardano (ADA) Will Outperform Ethereum 2.0 in DeFi Space –Charles Hoskinson

According to the report, Cardano (ADA) treasury currently stands at $189 million. Another thing that is worthy of note in the new development is that it’s now more than Ethereum (ETH) treasury.

Rick McCracken tweeted, “Good morning. The Cardano treasury is now worth $189 Million USD more than the Ethereum treasury.”

Read Also: Crypto Trader Lark Davis Is Bullish on Cardano (ADA) As Goguen Phase Gears to Roll Out

This new milestone serves as an indication that Cardano (ADA) is now putting itself in the best position to really compete with Ethereum and overthrow the leading smart contract platform.

Currently, Cardano is one of the fastest-growing communities in the cryptocurrency ecosystem. Cardano community on Reddit has grown from nowhere to around 150,000 members in a matter of weeks. The rate of the increase has obviously been significant.

Cardano (ADA) Is Coming To Celsius

According to a trending update on the Celsius Network Reddit channel, Cardano (ADA) is on the verge of being added to other digital currencies on the Celsius Network platform.

Cardano Treasury Hits $189 Million, Now More than Ethereum Treasury; ADA Is Coming To Celsius

This new development implies that ADA holders will be able to earn, borrow, and pay on the blockchain. Users can earn up to 21.49% APY on crypto and also get a crypto-backed loan for as low as 1% APR.

Going by the report, another digital asset to join Cardano (ADA) on Celsius is Polkadot (DOT).

Read Also: Analyst States Reason Why He’s Optimistic That Ethereum Would Break ATHs in 2021

Cardano (ADA) in the Market

Cardano (ADA), the fourth-largest digital currency by market capitalization, has been on an excellent performance over the past couple of hours.

The cryptocurrency continues to beat competitions from Ripple’s XRP and Polkadot (DOT). At the time of filing this report, ADA is trading at $0.7615, with about a 13% price upsurge in the last 24 hours. Its market capitalization now stands at $23.6 billion.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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