Cardano's scaling tool Hydra Head has been launched on the blockchain's mainnet, which is expected to speed up transactions significantly. The aim is to add specialized DeFi protocols on top of Cardano, giving the network utility comparable to that of Ethereum. Following the upgrade, Cardano's native token ADA has seen a slight uptick, currently ahead 1.45% in the last 24 hours.

Meanwhile, the Milady NFT collection spiked as much as 60% following an acknowledgement from Elon Musk, drawing parallels with his past praise for dogecoin. Finally, crypto miner Hive Blockchain is planning to sell up to $100 million in common shares through an at-the-market sale in order to fund the goal of doubling its computing power.