Cardano and Shiba Inu see market activity amid policy shifts and token burns

Cardano (ADA) experienced a significant price increase of over 16% on Friday, driven by broader market trends and specific institutional developments. The rally follows signals of increased support for digital assets from U.S. political leadership and Treasury Secretary Scott Bessent, who announced plans to expand long-term government bond repurchases. Additionally, Cardano was included in the T. Rowe Price Active Crypto ETF, fulfilling a previous indication by the fund manager.

In the meme coin sector, Shiba Inu (SHIB) has seen a continued reduction in token supply through its Shibarium ecosystem. The ShibTorch mechanism, funded by transaction fees using BONE as gas, has burned approximately 143.92 million SHIB over the last seven days. While recent burn rates are lower than the peak seen in late July, the cumulative burn has reached roughly 3.45 billion SHIB. Recent discrepancies in Shibarium's displayed transaction counts were attributed to an indexing issue rather than a loss of network activity.