One of the most common questions in the Cardano (ADA) community is with regards to the integration of Ledger Nano S. Most people want to store their ADA in the Nano hardware wallet, which is the most popular hardware wallet in crypto. Due to this demand, Emurgo has taken it upon themselves to handle this integration. As per an Emurgo reddit post, they are one step away from integrating Yoroi to Nano Ledger. Below is the full post from the Emurgo team.
“Since a lot of people in the community have asked for this, we (EMURGO) have decided to be the first to do the implementation and have it usable in Yoroi. Trezor was easier to do than Ledger so we started with that one and it is already available in Yoroi for Chrome.For Ledger, long story short, there are 3 steps for ledger integration and we’re already done 2/3 of the steps. Last step is just the UI+UX in Yoroi which we already have an engineer working on. We’ll let the community know when we have a 100% sure release date. We’re as excited about this as you are and can’t wait to let you all know more :)”
This is a big deal for Cardano investors because, soon they will be in a position to store ADA in one of the most popular hardware wallet, as they await the Bull Run. This could draw in more investors into Cardano, especially those who use Nano as their primary tool for storing their crypto.
The popularity of Nano Ledger is likely to grow after Canada’s largest exchange announced that it had lost crypto after its founder died. This has exposed the vulnerabilities of centralized exchanges and could drive investors to cryptos that are supported by popular hardware wallets like Nano S. As such, the integration of Cardano to this hardware wallet could see more investors move to buy ADA, and drive up its value in the long run.
When this combines with Cardano’s other upcoming developments, its value could rise significantly in coming months. For instance, with the upcoming Shelley Release, which will decentralize Cardano (ADA), more investors will take an interest in Cardano (ADA). That’s because, with Shelley, investors will be in a position to stake Cardano (ADA), which will draw in investors looking to earn a passive income from staking ADA.
These factors all point to how fundamentally strong Cardano (ADA) is. It may be trading at a few cents at the moment, but it has a chance of hitting a dollar or more in the next crypto Bull Run. It rose to over a dollar during the 2017 Bull Run when its fundamentals were not as strong as they are today. Now that it’s much stronger than it was in 2017, chances of it rising to over $5 or more in the next one are quite high. Cardano (ADA) is a gem, and those patient enough to wait will be rewarded. With Shelley, it could easily pump earlier than the rest of the market.