Ethereum, Solana, and Cardano topped the first institutional-grade crypto ESG ranking, while Bitcoin lagged due to its heavy energy usage, according to a report by CCData and the Crypto Carbon Ratings Institute. The report evaluated 40 of the largest digital assets based on parameters such as decentralization, security, and climate impact.

Charles Hoskinson, founder of Cardano, has proposed that Algorand transfer its codes onto the Cardano platform and become a sidechain. This proposition emerged after John Woods, CTO of the Algorand Foundation, mentioned Cardano as one of the leading PoS protocols.

Hardware wallet provider Ledger has teamed up with Cardano-based project Clay Nation for a new NFT Quest called "CLAY CAMPUS: THE SECURITY GRADUATION QUEST". Participants can test their web3 knowledge and win Clay Nation NFTs by completing a quiz on topics such as crypto wallets, web3 security, and smart contract functions.

Cardano's native tokens have surpassed 8.51 million and the total number of transactions has exceeded 70 million. Despite a decrease in development activity, the weekly development report highlighted progress made by various teams.

Cardano's ADA is struggling to stay above the $0.30 zone and could experience a sharp decline if it breaks the $0.2765 support level. The price is currently trading below $0.290 and the 100 simple moving average (4 hours), with immediate support at the $0.2815 level and a major bullish trend line forming.

Developers working on the Cardano (ADA) protocol are creating a new decentralized payment system called Hydra Pay, which will be powered by the Cardano-based layer-2 solution Hydra Head and compatible with Web3.0 wallets. The service is expected to offer near-instant settlement on Cardano L2 and is being developed by independent developers. With the capabilities of Hydra, the Hydra Pay service is also expected to be useful for micropayments. This is one of several innovative products launched by the Cardano community this year, including DJED, the first overcollateralized stablecoin, and the Light Wallet - Lace, which serves as a hub for all tokens in the Cardano community.

Cardano's NFT market performance in June surpassed some of the top blockchains in the industry, despite a decline in traders and being nicknamed the "ghost chain". While monthly unique NFT buyers on Cardano decreased significantly from its peak in October 2021, traders on the platform suffered fewer losses compared to some of the world's top NFT networks.

Recent studies have shown that Polkadot is leading in developer activity among multi-chain cryptocurrency networks, despite its native token DOT remaining stagnant in the market.

Cardano's Total Value Locked (TVL) has reached its highest point this year, standing at $166.39 million due to increased adoption and utilization of its decentralized applications (dApps). However, the seven-day circulation of ADA tokens has decreased, indicating that many tokens have not moved since a significant hike in the metric on June 25.

Cardano's ascending triangle chart pattern suggests a potential upward breakout, indicating bullish implications and attracting investor attention. The pattern forms when an asset's price creates higher lows and hits the same resistance level multiple times, signaling a battle between buyers and sellers. Despite positive on-chain metrics and bullish chart patterns, Cardano still has a long way to go to reach the scale of larger networks like Ethereum.