Cardano Stablecoin Supply Tops DeFi TVL by $11 Million

Cardano founder Charles Hoskinson stated that the Cardano blockchain will be complete after the Leios upgrade, which aims to increase transaction throughput. Leios, designed to scale from 2x to 30x current capacity, is currently in its Fire phase of testing. Hoskinson also mentioned working on a privacy sidechain concept for Cardano.

Cardano (ADA) prices fell 1.33% to $0.224 after U.S. inflation data sparked market-wide selling. Long-position liquidations hit $4.2M, with a 5,747% imbalance. Input Output announced the 'Musashi Dojo' testnet's third phase for Ouroboros Leios, aiming to improve Cardano's throughput.

Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) prices fell on Thursday amid renewed inflation concerns. XRP is at $1.30, ADA at $0.2297, and DOGE below $0.0800. Technical indicators suggest further downside risk for all three cryptocurrencies.

Cardano's ADA fell 5.88% to $0.2216 amid Fed rate concerns, with trading volume up 52.62%. The drop followed higher-than-expected US inflation data, raising uncertainty over Fed policy. ADA's market cap is $8.15B. Investors await the Fed's October meeting for further guidance.

Cardano's ADA and NIGHT tokens fell 6.4% and 4.9% respectively, hitting weekly lows after hotter-than-expected US CPI data spooked markets. ADA's price dropped to $0.2209, while NIGHT fell to $0.04222. Despite the declines, Cardano announced partnerships with Open Wallet Standard and Kraft Heinz, and Midnight released a roadmap for 2026-2027, showing long-term project development.

Major cryptocurrencies fell after U.S. inflation data exceeded expectations, with Bitcoin down 1.8% to $82,000 and Ethereum down 2.8% to $2,440. The total crypto market cap slipped 2.18% to $2.74 trillion. Higher inflation may complicate the Fed's efforts to control prices, potentially impacting risk assets like Bitcoin.