ADA Token Surges 5.22% as Binance Launches Soft Staking and Whales Accumulate 120M ADA

Cardano (ADAUSDT) has experienced a 5.22% price increase over the past 24 hours, currently trading at $0.6192 on Binance after opening at $0.5885. This upward movement is attributed to several recent developments, including the launch of Soft Staking for ADA on Binance with daily rewards, significant accumulation by large holders totaling over 120 million ADA in the past two weeks, and ongoing community discussions around Charles Hoskinson's proposal to allocate 140 million ADA from the treasury to support DeFi growth. Additional factors contributing to heightened market activity include Cardano reaching 110 million processed transactions, bullish sentiment following a 10% price surge, and increased trading volume—up to $989.52 million reported on some platforms, with an 85.40% volume increase noted. Cardano’s circulating supply stands at approximately 35.38 billion ADA, with a market capitalization between $20.33 billion and $22.50 billion. The combination of positive technical indicators, ecosystem developments, and increased staking options has supported recent price gains and heightened market participation.