ADA Surges 6% on Binance as Soft Staking Launch and Treasury Proposal Drive Investor Interest

Cardano (ADAUSDT) has experienced a notable price increase over the last 24 hours, rising 6.02% to $0.6234 on Binance. This upward movement is attributed to heightened trading activity, as evidenced by a significant surge in 24-hour trading volume, and positive sentiment surrounding Binance’s launch of Soft Staking for ADA, which enables users to earn daily rewards without a lock-up period. Additional market interest may be linked to ongoing developments within the Cardano ecosystem, such as Charles Hoskinson’s proposal to utilize 140 million ADA from the treasury for acquiring BTC and stablecoins, and broader crypto sector news including South Korea’s progress towards a local spot crypto ETF. Currently, ADA’s market capitalization is approximately $21.88 billion, with a circulating supply of 35.39 billion ADA and a 24-hour price range between $0.5840 and $0.6249, reflecting increased volatility and investor engagement.