updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131A fourteen-year-old native of the Netherlands would prefer to receive his pocket money in cryptocurrency.
What Happened: In a handwritten note shared on Twitter, the teenager asks his father, who owns and operates a Cardano (CRYPTO: ADA) stake pool, to give him his weekly allowance in ADA instead of fiat currency.
Wow I received this from my son of 14 today! #cardano #cardano #smartcontract It basically say he wants his allowance paid out in ADA en calls it a smart contract pic.twitter.com/pPZcpOidTh
— NEO Stakepool (@neo_stakepool) July 12, 2021
“I always hear you speak about your coins and Cardano. Always enthusiastic and with a smile and that it’ll be the future. I have for this reason decided that I would like to get my pocket money in ADA from next week,” said fourteen-year-old Noah in the note.
Noah concluded the note by adding, “Don’t you think this is a smart contract?”
Why It Matters: Staking is a way for long-term crypto holders to earn passive income on their investments by delegating their cryptocurrency to various stake pools.
According to data from Staking Rewards, Cardano has over $29.5 billion in staked value leads as the crypto-asset with the largest amount staked.
Over 69% of ADA’s circulating supply has been staked so far, earning an average reward of 6.63% per annum.
JPMorgan Chase & Co. (NYSE:JPM) estimate that the launch of Ethereum (CRYPTO: ETH) 2.0 could kick-start a $40 billion staking industry by the year 2025.
Read also: What is staking
“Not only does staking lower the opportunity cost of holding cryptocurrencies versus other asset classes, but in many cases, cryptocurrencies pay a significant nominal and real yield,” said the analysts.
Price Action: At press time, ADA was trading at $1.26, down 3.12% over the past 24-hours.
Ethereum was down by 3.91% during the same period, trading at a price of $1,949 at the time of writing.