The Cardano StableCoin DJED records a massive increase in volume, while the development of ADA subsides. How does this affect the future of the Cardano network?

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Stablecoin DJED verzeichnet massiven Volumenanstieg auf Cardano Im letzten Quartal gab es einige Schwankungen in der Leistung von Cardano (ADA). Doch eine erfreuliche Entwicklung hat dazu beigetragen, den Zustand des Netzwerks zu verbessern und das Wachstum in der Zukunft aufrechtzuerhalten – der massive Volumenanstieg des Stablecoin DJED. Laut ADAverse hat das tägliche Handelsvolumen des Cardano-Stablecoin DJED die beeindruckende Zahl von 163.000 ADA überschritten. Dies ist ein deutliches Zeichen für die wachsende Akzeptanz von DJED und Stablecoins im Allgemeinen auf der Cardano-Blockchain. Die zunehmende Nutzung von DJED erhöht auch die Liquidität und ermöglicht reibungslosere und effizientere Transaktionen innerhalb des Netzwerks. Das …
Stablecoin Djed recorded massive volume climbing on Cardano in the last quarter there were some fluctuations in the performance of Cardano (ADA). However, a gratifying development has contributed to improving the condition of the network and maintaining growth in the future - the massive volume increase of the stablecoin DJED. According to Adaverse, the daily trade volume of the Cardano Stable Djed exceeded the impressive number of 163,000 ADA. This is a clear sign of the growing acceptance of DJED and stable coins in general on the Cardano blockchain. The increasing use of DJED also increases liquidity and enables more smooth and efficient transactions within the network. The … (Symbolbild/KNAT)

StableCoin DJED lists massive volume climbing on Cardano

In the last quarter there were some fluctuations in the performance of Cardano (ADA). However, a gratifying development has contributed to improving the condition of the network and maintaining growth in the future - the massive volume increase of the stablecoin djed.

According to Adaverse, the daily trade volume of the Cardano Stable Djed has exceeded the impressive number of 163,000 ADA. This is a clear sign of the growing acceptance of DJED and stable coins in general on the Cardano blockchain. The increasing use of DJED also increases liquidity and enables more smooth and efficient transactions within the network.

The robust trading volume underlines the benefits of stable coins on Cardano and could further promote their use in various defi applications. In addition, the increased network activity has a positive impact on the general health and dynamics of the Cardano ecosystem.

The ADA token also recorded an increased interest of investors. After a crash to the level of support of $ 0.220 due to the SEC lawsuit against Binance, the ADA price has recovered significantly in the past few weeks. Since then, the ADA price has increased by 46.64%. At the moment, however, the price is still below the resistance mark of $ 0.384.

Despite some declines in the past few days, there is no significant decline in the ADA price at the time of the constitution of this article. However, it remains to be seen whether ADA will be able to test and overcome the resistance level of $ 0.384 in the future.

The relative strength index (RSI) from ADA is currently 52.80, which indicates a low dynamic of the buyers. At the same time, an increase in the on-balance volume (OBV) can be observed, which indicates an increasing purchase pressure for ADA.

With the price increase from ADA, the trading volume has also increased. However, data from Santiment show that AdA's trading volume has decreased slightly in the past few days.

In addition, there was a remarkable decline in development activities on Cardano, which indicates that there may be no new updates or upgrades in the network. This development could cause potential ADA investors to be more careful.

Overall, the mass increase in Djed's volume on Cardano shows the growing popularity of stable coins and its importance for the network. With the recovery of the ADA price, there is hope that ADA can also break through his resistance and record further growth. However, the declining tendency in the development activities on Cardano should be kept in mind.