You can call it Djed, but the game is stablecoin. According to reports, Cardano\u2019s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023.<\/p>\n
They call this type of stablecoin \u201calgorithmic,\u201d which means that the asset\u2019s stability is guaranteed by some very advanced, but (they say) \u201cultimately important,\u201d mathematics.<\/p>\n
Cardano collaborated with COTI on this mammoth project.<\/p>\n
in light of Djed\u2019s declaration, let us quickly review ADA\u2019s persformance of late:<\/p>\n
Price activity as of late indicates further pain
\nIf Crunchzone rises above $0.3160, the bears will gain even greater power
\nThat\u2019s a portent of fantastic things to come for Cardano<\/p>\n
A stablecoin might be a fantastic entry point for newcomers to the expanding Cardano ecosystem. When will ADA respond to this?<\/p>\n
It\u2019s official! $Djed<\/a> will launch on the Cardano Mainnet in January 2023! $Coti<\/a> $Ada<\/a> #Djed<\/a> pic.twitter.com\/cu8ryW6Lo7<\/a><\/p>\n \u2014 Djed Stablecoin (@DjedStablecoin) November 21, 2022<\/a><\/p>\n According to CoinGecko, the price of ADA<\/a> rose by 4.7% after the news. Likewise, TVL has risen from yesterday\u2019s level of $64.9 million\u00a0to today\u2019s $68.52 million.<\/p>\n Investors and dealers may be stocking up on ADA in preparation for a price surge.<\/p>\n Image: TradingView<\/p>\n With the announcement of the stablecoin, however, not everything is sunshine and rainbows. This can be summed up in a response to a commenter on the announcement\u2019s Twitter post:<\/p>\n How is this different from luna\u2019s UST<\/p>\n \u2014 Moche (@mocheswap) November 21, 2022<\/a><\/p>\n This is reflected in the price fluctuations of ADA. The regressive tendency indicates that holders will endure additional suffering. At the present price of $0.3160, a decline to $0.2985 is possible.<\/p>\n However, the Money flow index appears to contradict a value of 60, indicating a possible reversal.<\/p>\n Correlation also contradicts the regression pattern, since ADA\u2019s significant correlation (0.94) with a rising BTC will undoubtedly be beneficial.<\/p>\n However, RSI values remain neutral. With the price action establishing a double bottom, however, a decline below $0.2985 remains probable.<\/p>\n An coming Bollinger band crunch zone will also threaten an additional bullish recovery.<\/p>\n The announcement is welcomed with enthusiasm and anticipation by the community. However, the cryptospace\u2019s past experiences and the current bear market provide a formidable obstacle for investors and traders.<\/p>\n With bearishness evident on the daily and shorter timelines, this price increase could be a precursor to more declines. However, this indicates that the community interpreted the announcement as bullish rather than pessimistic.<\/p>\n\n ADA total market cap at $10.8 billion on the daily chart | Featured image from CoinCu News, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n You can call it Djed, but the game is stablecoin. According to reports, Cardano\u2019s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023.<\/p>\n They call this type of stablecoin \u201calgorithmic,\u201d which means that the asset\u2019s stability is guaranteed by some very advanced, but (they say) \u201cultimately important,\u201d mathematics.<\/p>\n Cardano collaborated with COTI on this mammoth project.<\/p>\n in light of Djed\u2019s declaration, let us quickly review ADA\u2019s persformance of late:<\/p>\n Price activity as of late indicates further pain A stablecoin might be a fantastic entry point for newcomers to the expanding Cardano ecosystem. When will ADA respond to this?<\/p>\n It\u2019s official! $Djed<\/a> will launch on the Cardano Mainnet in January 2023! $Coti<\/a> $Ada<\/a> #Djed<\/a> pic.twitter.com\/cu8ryW6Lo7<\/a><\/p>\n \u2014 Djed Stablecoin (@DjedStablecoin) November 21, 2022<\/a><\/p>\n According to CoinGecko, the price of ADA<\/a> rose by 4.7% after the news. Likewise, TVL has risen from yesterday\u2019s level of $64.9 million\u00a0to today\u2019s $68.52 million.<\/p>\n Investors and dealers may be stocking up on ADA in preparation for a price surge.<\/p>\n Image: TradingView<\/p>\n With the announcement of the stablecoin, however, not everything is sunshine and rainbows. This can be summed up in a response to a commenter on the announcement\u2019s Twitter post:<\/p>\n How is this different from luna\u2019s UST<\/p>\nAdapting To Optimism<\/strong><\/h2>\n
Unquestionably Still Bearish<\/strong><\/h2>\n
\nIf Crunchzone rises above $0.3160, the bears will gain even greater power
\nThat\u2019s a portent of fantastic things to come for Cardano<\/p>\nAdapting To Optimism<\/strong><\/h2>\n