ADA/USD market overview: Market continues to go ballistic as Ledger adds Cardano

ADA/USD continued their upward momentum this Wednesday after Cardano announced that they are now compatible with the popular hardware wallet, Ledger Nano S. Integration with Yoroi wallet is also available. Cardano tweeted:

“Cardano is now supported by Ledger! This initiative has been sponsored by the Cardano Foundation through funding the development of the Cardano Ledger app and associated software libraries.”

Cardano began their upward surge last week as they released 1.5 mainnet version. EMURGO’s (the financial arm of Cardano) CTO, Nicolas Arqueros said: 

“I am delighted at this integration finally being released to the public. This is an event that many people have been looking forward to for the past year. I am especially thrilled to see so many teams come together and cooperate on what really is groundbreaking news in the industry, and foreshadow many more exciting commercial developments for Cardano in 2019.”

Eric Larchevêque, CEO of Ledger, said this about the integration process:

“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.”

ADA/USD daily chart

ADA/USD went up from $0.061 to $0.067 this Wednesday, charting a 10% growth in price. The last time ADA/USD traded at this level was way back in 14th November 2018. The market has been trending above both the 20-day simple moving average (SMA 20) and SMA 50 curves since 9th March 2019. The relative strength index (RSI) indicator has crept into the overbought territory.