ADA Surges 13% as Binance Soft Staking, $48M Inflows, and ETF Buzz Ignite Cardano Rally

Cardano (ADAUSDT) has experienced a 13.01% price increase over the past 24 hours, rising from 0.7543 to 0.8524 on Binance. This upward movement is attributed to several factors, including the launch of Soft Staking for ADA on Binance, which has incentivized user participation and increased demand. Additionally, significant market inflows totaling $48 million, speculation around a potential Cardano ETF, and positive legislative developments in the U.S. have contributed to renewed investor interest. Technical indicators show ADA breaking out of a long-term descending channel and retesting key support levels, further supporting bullish sentiment.

Currently, Cardano is trading at 0.8524 with a 24-hour trading volume between $2.41 billion and $2.68 billion, a market capitalization of approximately $30.72 billion, and a circulating supply of 35.40 billion ADA. The asset has shown strong momentum, with a weekly price increase of over 25% and ADA/USDT on Binance being the most active trading pair.