Binance, the world’s largest cryptocurrency exchange, has officially enabled ARK staking on its exchange platform. Users can earn passive income by just holding at least 5 ARK coins on their exchange wallets.
Following Binanace’s announcement, the value of the cryptocurrency ARK coin rose by 48 percent last night. At the time of writing, ARK coin is worth $0.214, giving it a $25.8 million market cap.
Ark is one of the most ambitious solid projects in the crypto space. Ark is an all-in-one blockchain platform that aims to create an entire ecosystem of linked chains and a virtual spider web of endless use cases that make ARK highly flexible, adaptable, and scalable.
What is Crypto Staking?
In practice, staking allows customers to earn what is essentially interest on any cryptocurrency they hold, rewarding HODLers with a stream of passive income.
Currently, Binance supports staking for several PoS (Proof of Stake) coins, including Stellar (XLM), Algorand (ALGO), NEO (GAS), Ontology (ONG), VeChain (VTHO), Tron (BTT), Komodo (KMD), Stratis (STRAT), and Qtum (QTUM).
ARK/USD Price
*Charts are provided by cryptocompare.com
