The Cardano price has bounced back after days of consolidation as investors react to the new staking news. ADA is trading at $1.5015, which is 65% below its lowest level in April and a few points below its all-time high of $1.5525. It is ranked as the 7th-biggest cryptocurrency in the world with a market cap of more than $48 billion.
What happened: On Monday, I wrote about news that Cardano developers had reached a major deal with the Ethiopian industry to decentralize the education sector. The company said that this was the biggest blockchain deal ever because it will reach millions of customers.
And this week, cryptocurrency giant Kraken started allowing staking of the currency. The company said that it will offer between 4% and 6% for people who have ADA in their wallets. There will be no waiting period and people will start earning instantly. They will also receive their rewards every week.