ADA Token Surges 3.95% as Binance Launches Soft Staking and Whale Moves 120 Million ADA

Cardano (ADAUSDT) experienced a 3.95% price increase over the last 24 hours, rising from a 24h open of $0.7247 to a current price of $0.7533 on Binance. This upward movement is attributed to several recent developments, including the launch of soft staking for ADA on Binance, which offers users daily rewards with full liquidity and real-time reward tracking, likely increasing demand and trading activity. Additionally, market sentiment has been influenced by discussions of a potential rebound following a recent dip, increased spending by the Cardano Foundation, and notable whale activity involving the movement of 120 million ADA tokens.

Currently, ADAUSDT is trading at $0.7533 with a 24-hour trading volume of $1.40 billion and a market capitalization of approximately $26.23 billion on Binance. The price has shown volatility, with a 24-hour high of $0.7456 and a low of $0.7117, reflecting active trading and heightened investor interest.