CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 3272.26, up 0.8% (+24.45) since 4 p.m. ET on Wednesday.

Sixteen of 20 assets are trading higher.

Leaders: SUI (+6.4%) and AVAX (+3.0%)

Laggards: AAVE (-2.7%) and UNI (-1.3%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Cardano Foundation, a not-for-profit organization that develops and supports the Cardano network, said it spent $22.1 million on its three core areas last year, a 15% increase from 2023.

The money was allocated to adoption, operational resilience and education, according to the report, which is available to view on-chain via the Cardano Foundation’s Reeve tool. That’s up from $19.22 million the year before.

Assets rose to $659.1 million worth of crypto from $478.24 million as crypto prices rose. The price of bitcoin (BTC), which now accounts for about 15% of its holdings, climbed about 120% in 2024 while ADA (ADA) added 42%. ADA’s share of of assets dropped to 77% from 83%, according to the report.

«The Foundation’s primary income stream comes from staking rewards, which in 2024 totalled 17.1 million ADA from its 599.2 million ADA holdings—a return of 2.7%,» the company said. «Importantly, the delegation strategy prioritises stake pools that contribute meaningfully to the ecosystem, reinforcing the Foundation’s role as a responsible participant in Cardano’s decentralized infrastructure.»

In 2024, the foundation allocated over half of its expenditure — $15 million — toward adoption initiatives. These efforts included collaborations with organizations such as NASA, Barcelona FC, and the United Nations Development Programme, aiming to expand Cardano’s real-world applications.

Operational resilience received $3.8 million, funding enhancements like the launch of an open-source Cardano.org platform and the introduction of the Inter-Blockchain Communication Protocol, which connects Cardano to over 115 blockchains.

The organization employed more than 100 people by year-end.

«As stewards of an open-source ecosystem that is building for the long-term future of blockchain, we recognize that sharing not only our achievements but also how we allocate resources is fundamental to building trust and ensuring long-term success,» Frederik Gregaard, the foundation’s CEO, told CoinDesk.

Sequans Communications (SQNS), a leading cellular semiconductor maker, has announced its acquisition of 370 bitcoin BTC as part of a newly launched bitcoin treasury strategy.

The purchase was funded by proceeds from its recent equity and convertible debenture offering that closed on July 7.

“We are excited to begin executing our strategic plan to accumulate over 3,000 BTC in the coming weeks,” said Georges Karam, CEO of Sequans. “This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders.”

Sequans has chosen Coinbase as custodian, utilizing Coinbase Prime’s institutional-grade services.

Sequans Communications shares are up 2% in pre-market trading following the announcement of its bitcoin treasury strategy.