11.2.2021 | 10:54
Two new cryptocurrencies can now be staked on Binance: Cardano’s ADA and Cosmos’s ATOM. The platform is experiencing an unprecedented influx of users at the start of the year, while cryptocurrency prices are soaring.
On Binance, staking opens to Cardano and Cosmos
The launch of staking for Cardano and Cosmos cryptocurrencies was announced yesterday by Binance. The returns are rather high: up to 21.9% for the ADA, and 24.79% for the ATOM . Regarding the thresholds, users will be able to staker from an ADA and an ATOM. The upper limit is set at 1000 ADA and 50 ATOM.
These two cryptocurrencies join 34 others that were already offered for staking by Binance. The platform had already unlocked staking for Bitcoin Future two days ago, with annual staking rewards estimated at 32.79%.
Binance expands its empire
Binance’s offering is currently one of the most extensive among platforms that offer cryptocurrency staking. This is a further sign of the apparent hegemony of the exchange , whose Smart Chain has also overtaken Ethereum in terms of transactions in recent days.
This sometimes results in some technical issues. This week, the exchange’s services were briefly halted as Bitcoin (BTC) broke through $ 48,000 . This morning, Changpeng Zhao revealed that the platform is experiencing never-before-seen demand:
“Binance had a traffic record yesterday, 60% higher than the day before , which was already a record. The systems have managed to manage this influx. Registrations are still open, but I don’t know until when. Here too, we are witnessing a record. „
But it didn’t take long for the platform to become overloaded, with deposit, withdrawal, P2P and margin trading services, and others being suspended briefly. This clearly shows the interest of a new public for cryptocurrencies: good news for Binance, which thus confirms its domination …