ADA Surges 9.68% as Cardano Upgrades, Grayscale Allocation, and Binance Staking Drive Bullish Momentum

Cardano (ADAUSDT) has experienced a significant price increase of 9.68% over the past 24 hours, with the current price at $0.6832 on Binance. This upward movement is primarily attributed to recent Cardano network upgrades, including Hydra and Midnight, which have enhanced scalability and transaction throughput, leading to increased developer activity and greater DeFi participation. Additional positive sentiment has been fueled by Grayscale increasing its Cardano allocation, Cardano surpassing Ethereum in core development activity, and ongoing discussions about the potential approval of a Cardano ETF. The market has also responded to Binance’s introduction of ADA soft staking, allowing users to earn daily rewards without asset lock-up, which has likely contributed to increased demand and holding activity.

Trading volumes have remained robust, with 24-hour figures ranging from $716 million to $1.24 billion and a market capitalization between $22.77 billion and $27.49 billion. ADA’s circulating supply stands at approximately 36.14 billion out of a total 45 billion. The asset has traded between $0.6027 and $0.6800 in the last 24 hours, reflecting strong market interest and a shift toward bullish sentiment.