Cardano (ADA) is seemingly coming up short after the bullish rounds last week.
Bitcoin hit the $5,000 mark following a couple of months in the doldrums. Late last November, the coin dropped to the mid-$3,000 range, hanging there until early April, when it spiked by almost $1,500 within only a few short days. Some believed the bear rally over and had high expectations on what the currency could do.
Moreover, the coin saw itself joined by some of its crypto cousins, like Litecoin and Ethereum. Litecoin allegedly jumped by more than 200% over a week, while Ether tokens were trading for well over $174 apiece. Between its recent partnerships and some attention on Twitter from the likes of Charlie Lee and Mike Novogratz, Litecoin has experienced some surges.
Meanwhile, Cardano is a different story. It experienced solid runs last week, but Monday brought about a tiny drop in its price. ADA trades for only more than eight cents, down by roughly 10.25%, marking the largest “one-day percentage loss” since February.
It also drives Cardano’s overall market cap down to around $2.2 billion. Cardano stood at more than $23 billion at its peak. In addition, ADA only accounts for approximately 1.22% of the globe’s total digital currency.
With its latest announcement, the currency could likely gain more traction. Cardano is completely integrating itself with the Ledger wallet. The Ledger Nano S is already compatible with ADA, enabling users to obtain access to their ADA stashes and keep their private keys protected.
Ledger Nano S also integrates itself with the EMURGO-created Yoroi wallet that would function as a “companion app” and support the Cardano Ledger hardware wallet.
“This is an event people have been looking forward to for the past year. I am especially trilled to see many teams come together and cooperate on ground-breaking news in the industry. It foreshadows many more exciting commercial developments we have in store for Cardano in 2019,” EMURGO CTO Nicolas Arqueros explained in a statement.
Since Ledger first came to fruition, it has already sold almost two million wallets. The Ledger Nano S is the only certified hardware wallet available, obtaining CSPN certification.
“Our integration with Cardano is something the Ledger community has been looking forward to for a long time. We are constantly working to respond to the needs of our customers, so we’re thrilled to officially welcome Cardano to the Ledger platform, offering ADA investors world class security for their crypto assets,” Ledger CEO Eric Larcheveque commented.