ALGO Jumps 16% as Binance Soft Staking, Adoption Surge, and ETP Launches Drive $750M Volume

Algorand (ALGO/USDT) has experienced a significant price surge in the last 24 hours, with the current price on Binance at $0.2800, up 16.04% from the 24-hour open of $0.2413. The primary drivers behind this increase include the launch of soft staking for ALGO on Binance, which allows users to earn daily rewards, and broader positive sentiment following several key developments: a reported 62% surge in Algorand adoption, the introduction of Wormhole native token transfers for multichain interoperability, and the launch of new Algorand ETPs by Valour. Additionally, Algorand’s recent membership in the Blockchain Association has contributed to favorable market perception. While Tether’s planned phase-out of USDT on Algorand by September 2025 was announced, its impact is expected to be limited due to low USDT usage on the network. Overall, ALGO has seen robust trading activity, with 24-hour volume exceeding $750 million and a market capitalization above $2 billion, reflecting heightened investor interest and strong bullish momentum.