Cardano’s cryptocurrency has seen a stratospheric breakthrough in recent weeks. And the arrival of ADA liquidity mining on the Binance Smart Chain (BSC) could continue to support the project …
ADA liquidity mining on Binance Smart Chain
The Venus protocol, which uses the Binance Smart Chain, announced the arrival of ADA liquidity mining in its 2021 roadmap . Cardano’s native cryptocurrency can therefore be used as collateral for borrowing and lending on Venus. The protocol did not specify when the feature would be released to the public, though, although it is known that this will happen during the year.
This news allows ADA to gain a foothold in the particularly dynamic sector of decentralized finance ( DeFi ) . Cardano is indeed still in transition to the Goguen era, and therefore cannot for the moment offer DeFi projects natively. It is therefore possible that investors wishing to do ADA liquidity mining will turn to this type of ancillary solutions, without waiting for Cardano to directly offer similar services.
The ADA price has exploded
We explained it to you at the beginning of the month, the course of the ADA has progressed greatly in recent weeks . In two weeks, Cardano’s cryptocurrency market cap has doubled, and altcoin is now firmly established in the top 5 most capitalized currencies, with $ 27.7 billion . Over this period, the price of ADA thus rose + 178%:
In recent days, the ADA has hit the $ 1 threshold, and is currently trading at $ 0.87. The crossing of this important psychological threshold could trigger a new bullish push for the Cardano asset.