Coinbase announced on its official blog on March 24 that they have expanded their staking offering to include Cardano in line with their plans to scale their staking portfolio.

Coinbase, one of the major US-based cryptocurrency exchanges, announced in its latest statement that they are expanding their staking portfolio today to provide users with more options to earn crypto rewards.

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Rupmalini Sahu, senior product manager at Coinbase, mentioned in the announcement of Cardano staking that Cardano is a blockchain designed as a next-generation evolution of Ethereum and is among the top 10 most valuable cryptocurrencies by market cap.

   “At Coinbase, we are focused on providing customers with more ways to earn crypto rewards. Today, we are expanding our staking offerings to include Cardano (ADA) with plans to continue scaling our staking portfolio in 2022.”

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With today's announcement, Coinbase emphasized that it offers an easy and secure way for any individual user to actively participate in the Cardano network and earn rewards.

According to the statement made by Coinbase, the annual estimated rate of return (APY) of Cardano staking is expected to be approximately 3.75%. This rate will vary depending on the number of users staking. Users will receive their rewards every 5 or 7 days after an initial staking period of 20-25 days.

The post also stated that the Cardanos staked will remain in the users' accounts and the service can be canceled at any time. According to CoinGecko data, Cardano (ADA), which has gained 9.3% in the last 24 hours, is trading at $ 1.17 at the time of writing.

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Highest allocation in Grayscale's new smart contract fund is reserved for Cardano

Crypto asset investment and management company Grayscale announced yesterday that it has launched its new fund, the smart contract platform Ex-Ethereum Fund. The fund is one of the first securities funds to be indexed only to the prices of smart contract platform tokens.

Cardano, on the other hand, became the highest allocated crypto asset in Grayscale's new fund. This allocation rate is interpreted by some crypto participants as reflecting Grayscale's confidence in Cardano price performance for the future.