ADA Surges 2.67% as Binance Soft Staking, $1M+ Transactions, and U.S. Crypto Bills Drive Momentum

Cardano (ADAUSDT) has experienced a 2.67% price increase over the past 24 hours, currently trading at $0.8543 on Binance. The price movement is attributed to several factors: Binance's launch of Soft Staking for ADA, which enables users to earn daily rewards with full liquidity, has likely contributed to increased demand and positive sentiment. Additionally, heightened on-chain activity, including over 137 large transactions exceeding $1 million each and a notable single transaction with a $3 million fee, signals strong network engagement. Legislative developments in the U.S., particularly progress on crypto-related bills such as the "Genius Act" and "Clarity Act," have also supported market optimism. Speculation regarding a potential Cardano ETF and a 14% rise in open interest further reflect growing investor interest.

ADA's 24-hour trading volume is between $1.09 billion and $1.34 billion, with a market capitalization ranging from $29.08 billion to $30.79 billion. The asset remains among the top 10 cryptocurrencies by market cap, with a circulating supply of approximately 35.40 billion ADA. The current price is well below its all-time high of $3.10, but recent developments and increased activity have contributed to the latest upward momentum.