Besides Partnerships, Cardano’s Success Relies On Its Utility

Admittedly, I have been in a bit of a cryptocurrency rut recently. I’ve intended on writing about Ethereum, NEO, Cardano, Bitcoin Cash, or some other coin, but I don’t have the time to do serious writing about the coins. I was recently asked by a friend if I knew about Cardano, and I did. I’ll give you a brief description.

After just over a year since its launch, Cardano has become one of the most well-known names in the world of cryptocurrency. It has a market capitalization of $12 billion, and is one of only ten cryptocurrencies with a market cap of over $1 billion. That is a long way from where the project started back in September 2017. The currency was launched with an ICO (Initial Coin Offering), with $45 million (the equivalent of 14.4 bitcoins) being raised from investors in a presale.

Everyone knows that partnerships are a crucial part of any business. The mere existence of a partner can provide a number of benefits to the other party, such as increased sales, job security, legitimacy, and more. For Cardano (ADA), partnerships are a crucial aspect of its future success, and the company is rapidly expanding its ecosystem to include more partners.. Read more about partnership and let us know what you think.

Output Input In Hong Kong, the Cardano community announced two new collaborations in the interest of ADA investors. On July 5th, 2021, the deal was inked.

Two New Partnerships for Cardano

Cardano has partnered with the Nexo exchange and the Orion protocol, a decentralized aggregator. ADA allowed users to take use of extra services as a result of these agreements. The initial collaboration was with Nexo, which listed Cardano (ADA) on its platform. Users will be able to purchase, sell, and earn interest on their current coins as a result of this. It also allows holders to borrow one of the 40+ fiat currencies available. 

Users may also move their ADA to the Nexo wallet, which is an extra advantage of the Nexo exchange. Users may earn up to 12% interest on their Crypto Assets using this method. Users may also borrow US or Canadian dollars, as well as any other fiat currencies that are accessible. As a result, ADA holders are fortunate to get these credits just by keeping the cryptocurrency in a Nexo wallet. 

The second collaboration is with Orion Protocol, a decentralized network that serves as the initial entry point to the whole cryptocurrency market. The built-in liquidity aggregator is Orion’s value approach. The community of the Orion Protocol shares,

“The software enables users to automatically access several exchanges to get the best spot price for each supported cryptocurrency. Bringing the best of both centralized and decentralized exchanges together.”

Finally, these two Cardano partners provide customers access to two smart offers on their platform. Holders may use the Orion Protocol to purchase ADA and then transfer it to their Nexo wallet to earn interest or borrow against it. 

Existing Cardano Crypto Credibility

Apart from these collaborations, the Cardano (ADA) blockchain is more efficient than other digital assets and attracts user attention. Cardano’s reputation is based on its smart contracts and utility services, as a reminder to users. ADA can only increase its value if the usefulness is strong; otherwise, it will stay low in the market. 

Cardano is also featured on almost all of the top 50 cryptocurrency exchanges. Cardano is now ranked #5 in the cryptocurrency market. Leaving aside these new collaborations, Cardano’s performance in the crypto market remains strong and consistent. As a result, in the cryptocurrency market, Cardano is a highly potential digital asset player.

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