Cardano moves closer to Stablecoin launch, ADA holders could benefit if

Cardano will launch its algorithmic stablecoin Djed on January 2023 Cardano's TVL and ADA's price has been on a decline in recent weeks At the Cardano Summit on 21 November, Cardano announced that it would increase the scope of the network's offerings by issuing a stablecoin.

Timeline of Cardano

A Cardano-powered algorithmic stablecoin called Djed ($DJED) is set to launch early next year on the smart contract platform's mainnet, according to an announcement developers made at the Cardano Summit in Lausanne, Switzerland. Djed, as CryptoGlobe previously reported, is an algorithmic stablecoin issued by fintech startup COTI Group.

The stablecoin native to the Cardano ($ADA) network has recently been launched along with other synthetic assets via the Indigo Protocol on the cryptocurrency's blockchain. The Indigo Protocol was launched to issue decentralized synthetic assets on Cardano.

The trader known for accurately predicting this year's crypto market collapse is setting downward price targets for a slew of different altcoins in anticipation of another capitulatory event. The pseudonymous trader known as Capo tells his 673,000 Twitter followers that currently, every bump in crypto prices should be treated as an opportunity to sell.

The cryptocurrency market continues to wade through the murky red waters of a bearish trend – made worse by the collapse of FTX. Despite the negative market mood, ADA has so far held well against the rest of the market, down only 0.6% in the past 24 hours.

Cardano (ADA), Algorand (ALGO) and COTI are three altcoins that have bearish-looking charts and could collapse in the short term. The post The Crypto Market Outlook and 3 Altcoins to Consider Shorting appeared first on BeInCrypto.

Cardano founder, Hoskinson, in collaboration with Snoop Dogg have revealed a new music video published by clay nation amid their agreement few months ago. This comes as artists are looking more into the NFT philosophy.

COTI CEO Shahaf Bar-Geffen has appeared on stage at the annual Cardano Summit in Lausanne, where he confirmed that the company's algorithmic stablecoin will launch in January after the conclusion of a full audit. “Djed going to public mainnet is a great achievement, following a lot of hard work from IOG (Input Output Global) and COTI,” said Bar-Geffen.

Cardano price analysis shows a sharp drop in value today. After the continuing bearish momentum from yesterday, the ADA/USD pair has dropped from $0.3117 to the current price of $0.3023, losing 1.19 percent of its overall value over the last 24 hours.

After privacy-focused projects like Monero failed to combat rising privacy issues in the blockchain industry, Cardano, a crypto project backed by the technology company Input Output Global (IOG), is preparing to launch a new privacy-focused blockchain.

Delhi, India, 21st November, 2022, Chainwire Incentivizing greater student and teacher participation within EdTech with Coins for College Tuition Coin, a novel Crystal Chain product, is the newest Teach to Earn project on the Cardano blockchain.