ADA Surges 9.39% as Binance Launches Soft Staking and ETF Approval Boosts Institutional Access

Cardano (ADAUSDT) has experienced a notable price increase over the past 24 hours, with the price rising 9.39% from a 24h open of $0.5450 to $0.5962 on Binance. This upward movement is attributed to several positive developments, including Binance's introduction of Soft Staking for ADA, enabling users to earn daily staking rewards with increased flexibility, and the U.S. SEC's approval of the Grayscale Digital Large Cap Fund's conversion into a spot ETF, which includes Cardano among its assets and enhances institutional access. Additionally, technical indicators such as the emergence of a "golden cross" on the weekly chart and the formation of Cardano's first green weekly candle after a prolonged downtrend have contributed to renewed market optimism and increased trading activity.

Currently, Cardano is trading at $0.5962 with a 24-hour trading volume ranging from $381.29 million to $1.05 billion and a market capitalization between $19.68 billion and $20.65 billion, reflecting heightened volatility and strong market interest.