ADA Surges 5.84% as $71M Fund, Chang Hardfork, and NIGHT Airdrop Drive Bullish Momentum

Cardano (ADAUSDT) has seen a 5.84% price increase over the past 24 hours, rising from 0.7260 to 0.7684 on Binance. This upward movement is primarily attributed to the community's approval of a $71 million development fund for core network upgrades, a key outcome of the recent "Chang" hardfork, and the launch of the Midnight (NIGHT) privacy token airdrop, with 50% of NIGHT tokens allocated to ADA holders. Additional positive sentiment followed the SEC's clarification that ADA staking is not considered a security.

Currently, ADAUSDT is trading at 0.7684 with a 24-hour trading volume exceeding $612 million, a circulating supply of over 35 billion ADA, and a market capitalization estimated between $26 billion and $27 billion. The asset is consolidating near the upper end of its recent range, having reclaimed its 50-day moving average and retesting resistance between 0.74 and 0.77, while broader market analysis suggests short-term bullish momentum amid longer-term consolidation.