After weeks of speculation, Cardano [ADA] was integrated on the cryptocurrency hardware wallet, Ledger. As announced by an official post on 27 March, the tenth largest cryptocurrency on the market will be added to the upcoming Ledger Nano S.
The integration was due to the efforts of Emurgo, Cardano’s commercial arm, which was also instrumental in integrating the Ledger Nano S with the Yoroi wallet. The official post added,
“The Ledger Nano S is fully compatible with the EMURGO-developed Yoroi wallet, the first official companion app to support the Cardano Ledger hardware wallet.”
Eric Larchevêque, the CEO of Ledger, stated,
“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.”
ADA proponents were buoyed by this addition as it will greatly enhance the security of the coins, courtesy of the Ledger wallets. At a time when several regulators are on the fence with reference to digital assets, an external hardware wallet will provide impetus to investor protection and positive regulation.
Cardano enjoyed a bullish few weeks owing to a number of announcements, from managerial restructuring to exchange announcements. The price of the coin rose by a whopping 22.04 percent over the past seven days.
The foundation became a founding member of the International Association for Trusted Blockchain Application [INATBA], which focuses on crypto and blockchain adoption in Europe. Speculation surrounding a possible Coinbase addition also added to the rise, following the addition of Stellar Lumens [XLM] to the American exchange’s services.
However, the primary reason behind the rise was the imminent Ledger integration which was speculated since the beginning of the week.
At press time, Cardano was trading at $0.065, its highest price since November 2018. The market cap of the coin stood at $1.71 billion, behind the top stablecoin Tether [USDT] by $350 million.
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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.