U.S.-based Kraken exchange, spearheaded and co-founded by Jesse Powell, announced the start of staking for the native token of the Cardano blockchain, ADA, ranked seven on CoinMarketCap.
ADA staking launched by Kraken
The launch of ADA staking was announced on May 4 on Kraken's official Twitter handle.
According to the tweet, the initial annual staking rewards will be four-six percent.
ADA was initially listed by Kraken back in the fall of 2018.
ADA surpasses 2018 ATH, spiking to a new historic peak
This year, as Bitcoin surged above the $20,000 level, surpassing its 2017 all-time high, ADA began ascending from the $0.17 level where it had been trading since January 2020. Prior to that, the coin had been in a range of $0.04 after reaching an all-time high of $1 on Jan. 3, 2018.
On March 3 this year, the coin surpassed its 2018 historic peak, hitting a new all-time high of $1.25.
On April 14, ADA left this peak behind as well, soaring to the $1,44 level. At press time, the coin is sitting at $1.34, as per data from CoinMarketCap.