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Cardano (ADA) experienced a downward trend on the daily chart, although it saw a 7.4% bounce from its lows on Wednesday. Technical analysis indicates that market bulls face a challenging task in reversing this trend.

In a notable indication of increasing acceptance within mainstream finance, Morgan Stanley has disclosed a substantial investment of $269.9 million in Bitcoin through Grayscale’s GBTC trust, as noted in its first-quarter 13F filing.

Hong Kong, a city known for its bustling finance scene, recently set the stage for a groundbreaking event: Ordinals Asia 2024. Held on May 10th and 11th, this conference served as a pivotal platform for exploring the burgeoning world of Ordinals – a revolutionary technology that allows users to permanently inscribe data directly onto individual Satoshis (the smallest unit of Bitcoin).

Chainlink (LINK) has experienced a significant surge, rising by nearly 19% in the past 24 hours, following the announcement of its collaboration with the Depository Trust and Clearing Corporation (DTCC), a prominent financial market infrastructure company based in the United States.

Fantom (FTM) has experienced substantial price appreciation in recent days; however, there is now speculation about a possible correction in the altcoin's value.

Tether, the creator of USDT, has utilized its treasury to generate a substantial volume of its stablecoin. According to on-chain data, Tether Treasury produced 1 billion USDT on May 16, specifically at 16:50 UTC.