On Tuesday (July 19), Trust Wallet posted a partnership announcement with Cardano (ADA). As such, the two firms will provide crypto interoperability to over 50 million users. The report is quoted as follows:
“Cardano is considered one of the most promising ecosystems in the crypto space which is why this is a significant milestone for the Trust Wallet community,” The report added: “Cardano has recently crossed a major achievement with over 1,000 projects building on its ecosystem.”
Currently, Trust Wallet supports storing 3 million crypto assets. Users can also store digital assets such as NFTs on more than 65 blockchains.
About Cardano, it is a decentralized and open-source blockchain that operates under a proof-of-stake (PoS) consensus mechanism. The firm now has more than 1,000 projects built on its ecosystem.
Through this partnership, users can purchase Cardano directly in the Trust wallet app. In addition, users can also store, send and receive tokens under the Cardano dApps stored on the Trust wallet. The new feature will be available on iOS from version 6.16 and Android from version 5.1.
Notable News for ADA Holders
The integration of Cardano into Trust Wallet really means for ADA holders. Thereby, they will be able to use Trust Wallet to track ADA performance through the app.
To use the new service, Trust users must update their wallets to the latest version.
A Significant Rise in ADA Price
Cardano’s native token, ADA, is up 25% in the past 7 days. At press time, ADA is trading at $0.528, up 5.4% over the past 24 hours, according to data from CoinGecko.
RSI above 50 indicates an uptrend in price. The stochastic oscillator has crossed the entire upward movement in the oversold range.
Beside the integration, the increase in ADA price is partly due to the expectation of Vasil Hard Fork. Previously, on July 3, the Vasil testnet was successfully launched. This update is expected to generate bullish movements for ADA price.
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