ADA Surges 6.32% as Binance Soft Staking Launch, Whale Accumulation, and Volume Spike Drive Rally

Cardano (ADAUSDT) has experienced a 6.32% price increase over the last 24 hours, rising from a 24-hour open of 0.5873 to a current price of 0.6244 on Binance. This upward movement is attributed to several factors: the introduction of Soft Staking for ADA on Binance, which incentivizes holding with daily rewards; significant accumulation by large holders totaling over 120 million ADA in the past two weeks; and heightened market activity, as reflected by a 98% surge in trading volume to approximately $921.98 million. The broader altcoin market has also been influenced by recent macroeconomic developments, such as new U.S. tariff announcements. Despite some bearish technical signals and resistance near $0.5900, ADA’s price has shown resilience, outperforming the global cryptocurrency market in the last 24 hours. Cardano’s market capitalization stands at around $22.49 billion, with a circulating supply of approximately 36.14 billion ADA.