ADA Dips 2.86% Despite $140M Treasury Move and Binance Soft Staking Boost

Cardano (ADA) is currently trading at $0.5988 on Binance, reflecting a 2.86% decline over the past 24 hours from an open of $0.6164. The recent price drop is primarily attributed to ongoing technical correction following a "death cross" event in late May and broader market volatility, despite positive ecosystem developments such as the launch of Binance Soft Staking for ADA and Cardano’s treasury plans to invest 140 million ADA into Bitcoin and Cardano-native stablecoins to support DeFi growth. Robust on-chain activity continues, with over 5.4 million wallets and a 24-hour trading volume exceeding $700 million, indicating sustained user engagement and high liquidity even amid short-term price pressure.