Cardano on the Rise as Ledger Adds $ADA Support – Road To The Top 5?

After months of speculation, Cardano (ADA) has finally been integrated into the popular and secure hardware wallet Ledger Nano S, according to an official announcement by Ledger on March 27.

The integration of ADA onto Ledger has been on Cardano’s roadmap for quite some time, and Cardano enthusiasts are ecstatic that it’s finally come to pass, especially as they are working towards migrating to the Shelley phase of their roadmap.

As put by Eric Larchevêque, the CEO of Ledger:

“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.”

Per Ledger’s blog post, Cardano’s Ledger integration was thanks to the efforts of Emurgo, Cardano’s commercial arm.

In addition to Ledger’s tweet, the official announcement read:

Users will be able to protect their private keys through Ledger’s wallets, giving them access to their ADA with increased security and peace of mind. The Ledger hardware wallet integrates with the EMURGO-developed Yoroi wallet, the first official companion app to support the Cardano Ledger hardware wallet.”

Cardano on the Rise, Will It Reach the Top 5?

Cardano proponents are very excited about the Ledger integration, as it greatly increases the security of storing ADA and is a sure sign that the project is moving along with new developments.

Thanks to this and other developments, including the Mainnet 1.5 release and significant progress towards a proof-of-stake blockchain, the price of Cardano has been reacting well.

Cardano enthusiasts have begun accumulating, as the coin’s price has increased significantly, showing a whopping 50% increase over the past month alone. The price of ADA is currently sitting at $0.066 and is now ranked a top 10 coin after being knocked down for a period of time.

Now that Cardano is finally showing signs of progress as they move closer to a new proof-of-stake (PoW) protocol and transition to the long-awaited Shelley phase of development, we might just see Cardano climb back up to a top 5 coin in terms of market capitalization.

Do you think Cardano will continue on their upwards trajectory and become a top 5 crypto soon? Let us know what you think in the comment section below.