1,250,000,000 Cardano in 24 Hours, Open Interest Flips Bullish; XRP Lands Its First $10 Million Corporate Acquisition; USDT Hits Crazy 80% Stablecoin Market Milestone: Crypto News Digest by U.Today
Emily HarrisCheck out U.Today's news digest to stay updated on the latest events in the crypto space[...]
Cardano's Open Interest Spikes as Traders Remain Optimistic
Despite recent price dips and lower trading volume, Cardano (ADA) has experienced a notable increase in open interest, signaling continued trader confidence in the asset's potential. Data from CoinGlass reveals a 1.98% rise in Cardano's open interest over 24 hours, reaching 1.25 billion ADA—equivalent to roughly $940.7 million invested in ADA futures. Binance and Bitget lead with the largest shares of open interest at $201.28 million and $192.80 million, respectively, positioning them as key influencers in Cardano's market dynamics.
Hyperscale Data to Invest up to $10 Million in XRP for New Lending Platform
Hyperscale Data, via its subsidiary Ault Capital Group, announced plans to acquire up to $10 million in XRP in preparation for its upcoming blockchain-based lending platform, set to launch in Q3 2025. The platform will cater exclusively to companies listed on NYSE, NYSE American, and NASDAQ, offering XRP loans with flexible terms—either collateral-backed or convertible into registered equity. To mitigate crypto market volatility, Hyperscale will leverage XRP futures contracts on the Chicago Mercantile Exchange.
Tether's USDT Dominates 80% of Stablecoin Payments
Tether CEO Paolo Ardoino highlighted a major achievement for USDT, which now represents 80% of all stablecoin payment transactions. A report titled Stablecoin Payments from the Ground Up shows that monthly stablecoin payment volume (measured in net USD value transferred) skyrocketed by 215% over two years—from $2 billion to $6.3 billion. Despite this growth, stablecoin payments remain a fraction of the volumes processed by traditional giants like Visa and Mastercard. Tron (TRX) leads as the most-used blockchain for stablecoin transfers, followed by Ethereum (ETH), Binance Smart Chain (BSC), and Polygon (MATIC).
