- Cardano’s staking surges to $8B compared to ADA’s 31% increase last month.
- The companADA’s price dances near $0.34 amid a market cap boost while a pivotal treasury tax cut proposal looms. y is the issuer of USDC, the second-largest stablecoin.
- Cardano’s proposal may fuel a new era for SPOs, enhancing network strength as ADA values aim higher.
At the reported time, Cardano’s ADA staking has witnessed a -97 % decline over the last 24 hours, despite witnessing an over 50% surge on Nov. 7 that propelled the staked value to $8 billion. This significant uptick mirrors the burgeoning investor confidence in the Cardano network in a month where ADA’s value soared by 31%. However, the recent drop in staking might be due to profit-taking by investors who may have gained on the previous spike.
Staking Dips Amid Price Rally
Cardano, currently the third-largest player in the staking market cap arena, has solidified its position with $8.16 billion of capital now staked. This sum equates to 22.98 billion ADA tokens, now under the watch of validators and delegators within the protocol. With 63% of all ADA in circulation now staked, the market capitalization of Cardano s…
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