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Djed Stablecoin on Cardano Chain Outperforms USDC Despite Market Fluctuations

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Djed Stablecoin on Cardano Chain Outperforms USDC Despite Market Fluctuations

It is reported that according to the data of coinmarketcap, the stable currency Djed on the Cardano chain has gained a premium higher than the market performance under the recent fluctuation of the US dollar stable currency USDC, even reaching US $1.08 at one time, and has now fallen slightly to US $1.02. In addition, the direct price difference between USDT and Djed has reached about 1%, while the trading volume has also continued to increase. The data also shows that Djed’s current reserve is about 33.28 million ADAs, the mortgage rate is 428%, and the fully diluted market value reaches 1018522837484 dollars. （u.today）

The premium of the stable currency Djed on the Cardano chain once rose to $1.08

Analysis based on this information:


The recent fluctuations of the US dollar stable currency (USDC) have highlighted the outstanding performance of the Djed stablecoin on the Cardano chain. According to data from coinmarketcap, Djed has gained a premium higher than the market performance of USDC, even reaching US $1.08 at one point. Although it has now fallen slightly to US $1.02, Djed’s premium suggests that it is becoming a more popular option for those looking for stability in turbulent times.

Coinmarketcap data also reveals that there is now a direct price difference of about 1% between USDT and Djed, which along with increasing trading volumes, highlights the growing acceptance of Djed in the market. At present, Djed’s reserve is about 33.28 million ADAs, with a mortgage rate of 428%. The fully diluted market value is estimated to reach 1018522837484 dollars. This data, combined with the stablecoin’s consistent increase in trading volume, is an indication of the market’s confidence in Cardano’s technology.

The success of Djed is attributed, in part, to Cardano’s unique approach to the blockchain, which utilizes the proof-of-stake (PoS) consensus algorithm rather than the proof-of-work (PoW) algorithm. This approach enables a more democratic and decentralized system that can handle more transactions, leading to faster and more reliable confirmations. The adoption of Cardano’s PoS algorithm also minimizes energy consumption in the validation process, thus making it an environmentally-friendly approach that has less negative impact on the environment.

In conclusion, the increasing acceptance of Djed on the Cardano chain is a remarkable feat given the market turbulence of the US dollar. Djed’s stable performance suggests a growing acceptance of its technology and the success of Cardano’s unique approach to blockchain. With increasing trading volumes and a growing reserve, Djed is proving to be a stablecoin that traders and investors can rely on in these uncertain times.

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