ADA Token Rises 2.97% Amid Binance Soft Staking Launch and Cardano Network Growth

In the past 24 hours, ADAUSDT has risen by 2.97%, opening at 0.5890 and trading at 0.6065, with the price movement attributed to increased trading activity and investor interest following Binance's launch of Soft Staking for ADA and ongoing network developments such as the Cardano Foundation's introduction of the Reeve financial reporting tool. Despite recent reports of bearish sentiment due to significant whale sell-offs and declining open interest in derivatives, the asset has shown short-term resilience, likely supported by robust trading volume exceeding $803 million and continued network growth, as indicated by over 111 million processed transactions. Cardano's market capitalization is approximately $21.54 billion, and the circulating supply stands at 35.39 billion ADA, with price action currently consolidating within a narrow range.