Cardano tokens extend gains as Coinbase expands staking offerings

Cardano (ADA-USD) tokens are jumping 11% more Thursday, as cryptocurrency exchange Coinbase Global (NASDAQ:COIN) expanded its staking offerings to include the seventh largest digital coin by market cap, according to a blog post Wednesday. Coinbase (COIN) also said it's planning to scale its staking portfolio this year. Staking, which is used to verify transactions, allows users to get rewarded for holding onto cryptocurrencies. The current estimated annual return for Cardano (ADA-USD) staking on Coinbase (COIN) is ~3.75% APY, the company noted. Once the initial holding period of 25-50 days is complete, users will receive rewards every 5-7 days. On Wednesday, Cardano tokens outshined most cryptos after its inclusion in the new Grayscale fund.