ADA Token Sees 3.26% Drop Amid Binance Soft Staking Launch and Major Cardano Upgrades

Cardano (ADAUSDT) experienced notable volatility in the past 24 hours, with the price on Binance currently at $0.8333, reflecting a 3.26% decrease from the 24h open of $0.8614. The price decline follows a period of heightened trading activity and increased open interest, which was driven by several factors: the announcement of soft staking for ADA on Binance, major network developments such as Brave Wallet integration, the introduction of a new governance model, and the Plutus v3 upgrade. Additionally, a high-fee transaction exceeding $3 million and speculation around a potential Cardano ETF contributed to increased market attention. Despite bullish sentiment and technical indicators suggesting possible upward movement, the price correction may be attributed to profit-taking after recent rallies and broader market fluctuations, even as the overall crypto market cap surpassed $4 trillion. ADA remains actively traded, with a 24-hour trading volume of approximately $3.57 billion and a market capitalization near $30 billion, maintaining its position among the top cryptocurrencies.