Cardano’s Biggest Players Unite Behind 70M ADA Push to Spark On-Chain Growth

TON has gained 3.7% following the launch of the STON.fi DAO and the introduction of a Telegram-backed AI platform, Cocoon, which allows users to earn TON tokens by renting out their computing power. This development has sparked increased demand for TON in the cryptocurrency market.

S&P Global Ratings has downgraded Tether's USDT stablecoin to its lowest rating, citing increased vulnerability due to its exposure to falling Bitcoin prices and concerns over reserve management and governance issues. This downgrade has revived warnings about the potential risk of Tether de-pegging from the US dollar, as highlighted by HSBC.

IREN has raised $3.6 billion in capital, prompting investors to reassess their outlook on the company as Jim Cramer advises selling. This significant capital influx comes amid a challenging cryptocurrency market environment, marked by volatility and declining asset values.

Sony's blockchain partner, Startale, has launched a dollar stablecoin on the Soneium platform, marking a significant step in integrating cryptocurrency with mainstream financial systems. This initiative aims to enhance the usability of digital currencies in everyday transactions.

Chainlink (LINK) has gained 8.9%, contributing positively to the CoinDesk 20 index, which reflects a general rise in cryptocurrency performance. This increase comes amid a backdrop of fluctuating market conditions, showcasing Chainlink's resilience in a competitive landscape.

Theo Anchor has announced the launch of the ULTRA fund, a tokenized treasury fund backed by Libeara, with an initial capital exceeding $100 million. This fund aims to provide a stable investment vehicle within the cryptocurrency space, leveraging the backing of a reputable entity to attract investors.

Jane Street has led a $105 million funding round for Antithesis, a testing tool utilized by the Ethereum network, as reported by CoinDesk. This investment highlights the growing interest in tools that enhance the functionality and reliability of blockchain technologies.

Polkadot has experienced a notable gain of 9% after successfully breaking through the key resistance level of $2.25, indicating a positive shift in market sentiment for the cryptocurrency. This movement reflects a growing confidence among investors in Polkadot's potential for future growth.