ADA Surges 6% as Binance Launches Soft Staking and Cardano Proposes Major Treasury Move

In the past 24 hours, ADAUSDT has experienced a notable price increase of 6.11%, rising from a 24h open of $0.7152 to a current price of $0.7589 on Binance. This upward movement is attributed to several key factors: Binance’s introduction of Soft Staking for ADA, which allows users to earn daily rewards with flexible withdrawals, has likely increased demand and market activity. Additionally, Cardano founder Charles Hoskinson’s proposal to utilize 140 million ADA from the treasury to acquire Bitcoin and Cardano-native stablecoins has generated significant discussion and optimism within the Cardano community. The Cardano Foundation’s recent financial report, highlighting strong reserves and a focus on adoption and education, has further contributed to positive sentiment.

Currently, ADAUSDT is trading at $0.7589 with a 24-hour trading volume between $1.16 billion and $1.79 billion and a market capitalization around $26.5 billion. The asset has shown strong recovery and is consolidating near recent highs, with analysts monitoring resistance levels for potential further gains.