ADA Surges 2% as Cardano Treasury Allocates 140M Tokens and Staking Rewards Drive Bullish Momentum

ADAUSDT is currently trading at 0.6433 on Binance, reflecting a 2.08% increase over the past 24 hours from an open of 0.6302, with a 24-hour trading volume of approximately $652.89 million and a market capitalization around $22.7 billion. The recent price rise can be attributed to positive developments in the Cardano ecosystem, including the proposal by founder Charles Hoskinson to allocate 140 million ADA from the treasury for Bitcoin and stablecoin purchases, a surge in new projects—especially in NFTs and smart contracts—and the announcement of new $NIGHT staking rewards for ADA holders. Increased accumulation by large holders and a growing number of staking addresses have also contributed to bullish sentiment and active trading, supporting the observed upward price movement. ADA remains near key technical resistance, with ongoing ecosystem growth and treasury activity providing fundamental support for its current valuation.