ADA Surges 9.94% as Binance Soft Staking Launch and Major Transfers Drive Market Momentum

Cardano (ADA) experienced a notable 9.94% price increase over the past 24 hours, rising from 0.5139 to 0.5650 USDT on Binance. This price surge is primarily attributed to renewed market interest following the announcement of Binance enabling ADAUSDT holders to participate in Soft Staking, allowing users to earn staking rewards with flexible token access. Additionally, heightened trading activity was observed after large holders moved 230 million ADA over three days, suggesting significant repositioning among major participants. Recent news developments, including the unveiling of a new tokenomics whitepaper and anticipation for the upcoming "Leios" mainnet upgrade, have also contributed to positive sentiment and increased trading volume. Despite the recent gains, overall market sentiment remains cautious due to prior declines triggered by geopolitical tensions and technical breakdowns, with key support levels being closely monitored. ADA is currently consolidating near 0.5650 USDT with elevated trading volume and a circulating supply of approximately 35.36 billion tokens, placing its implied market capitalization near $20 billion.