ADA Surges 3.71% on Binance as Bullish Breakout, $1B Volume, and Short Liquidations Drive Rally

In the past 24 hours, Cardano (ADAUSDT) has experienced a 3.71% price increase, rising from a 24h open of 0.7257 to a current price of 0.7526 USDT on Binance. This upward movement is primarily attributed to a series of bullish developments, including strong market optimism, technical breakout discussions, and significant short liquidations—most notably a 4,146% liquidation imbalance that forced many short-sellers out of their positions. Additional contributing factors include large-scale accumulation by major holders, positive sentiment following Cardano founder Charles Hoskinson's proposal to convert treasury funds, and robust trading activity with 24-hour volumes exceeding $1 billion. Despite some profit-taking and a decrease in open interest for ADA derivatives, overall sentiment remains bullish, with ADA maintaining a market capitalization near $26.68 billion and a circulating supply of approximately 35.38 billion ADA.