Besides Partnerships, Cardano’s Success Relies On Its Utility

Besides Partnerships, Cardano’s Success Relies On Its Utility

Input Output Hong Kong, a community behind Cardano revealed two new partnerships for the interest of the investors of ADA. The partnership was signed on July 5th, 2021.

Cardano’s Two New Partnerships

Cardano joins with Nexo exchange and with decentralized aggregator Orion protocol. With these partnerships ADA enabled the users to experience some additional services. The first partnership with Nexo crypto exchange, listing Cardano (ADA) on its platform. This benefits the users to buy, sell and gain interest on their existing coins. Additionally, it helps the holders to borrow one of the 40+ fiat currencies. 

Moreover, the additional benefit of Nexo exchange is that the users can transfer their ADA to the Nexo wallet. With this, the users can earn up to 12% interest on Crypto Assets. Also, the users are eligible to borrow U.S. or Canadian dollars or any other fiat currencies available. So for just holding the crypto in a Nexo wallet, ADA holders are lucky to enjoy these credits. 

Further, the second partnership is with Orion Protocol, a decentralized platform that is the first gateway to the entire crypto market. The strategy to Orion’s value is its built-in liquidity aggregator. The Orion Protocol’s community shares,

“The platform automatically allows its users to access multiple exchanges in order to obtain the best spot price for any supported cryptocurrency. Embodying the best features of both centralized and decentralized exchanges.”

Eventually, these two partners of Cardano allow the users to access two smart offers on their platform. The holders can buy some ADA through Orion Protocol and then transfer it to their Nexo wallet to earn interest or borrow against it. 

Cardano’s Existing Crypto Credibility

Besides these partnerships, Cardano (ADA) blockchain is more efficient than the other digital assets and grabs the user’s attention as well. As a note to the users, Cardano’s credibility is its smart contracts and utility services. Only if the utility is strong ADA can boost its value else it remains low in the market. 

Additionally, Cardano is listed in almost all the top 50 cryptocurrency exchanges. Cardano ranks #5 in the crypto market. Thus, keeping these new partnerships aside, Cardano’s move in the crypto market remains high and valid. Therefore, Cardano is a very promising digital asset participant in the cryptocurrency world.

Recommended for you

A responsible HR Admin with good experience in an international pharmaceutical company. She is passionate about dedicating her time to share her perspective about crypto and blockchain technology.