{"id":509814,"date":"2022-11-23T11:47:32","date_gmt":"2022-11-23T11:47:32","guid":{"rendered":"https:\/\/wncen.com\/?p=509814"},"modified":"2022-11-23T12:31:22","modified_gmt":"2022-11-23T12:31:22","slug":"cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/","title":{"rendered":"Cardano Stablecoin Unveiling Is Just Around The Corner &#8211; Will This Boost ADA Price?"},"content":{"rendered":"<p>You can call it Djed, but the game is stablecoin. According to reports, Cardano&#8217;s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023.<\/p>\n<p>They call this type of stablecoin &#8220;algorithmic,&#8221; which means that the asset&#8217;s stability is guaranteed by some very advanced, but (they say) &#8220;ultimately important,&#8221; mathematics.<\/p>\n<p>Cardano collaborated with COTI on this mammoth project.<\/p>\n<p>in light of Djed&#8217;s declaration, let us quickly review ADA&#8217;s persformance of late:<\/p>\n<ul>\n<li>Price activity as of late indicates further pain<\/li>\n<li>If Crunchzone rises above $0.3160, the bears will gain even greater power<\/li>\n<li>That&#8217;s a portent of fantastic things to come for Cardano<\/li>\n<\/ul>\n<p>A stablecoin might be a fantastic entry point for newcomers to the expanding Cardano ecosystem. When will ADA respond to this?<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/polygon-poised-for-a-major-advance-next-year-if-matic-stays-on-this-course\/\">Polygon Poised For A Major Advance Next Year If MATIC Stays On This Course<\/a><\/div>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It&#8217;s official! <a href=\"https:\/\/twitter.com\/search?q=%24Djed&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$Djed<\/a> will launch on the Cardano Mainnet in January 2023! \ud83d\ude80<a href=\"https:\/\/twitter.com\/search?q=%24Coti&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$Coti<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24Ada&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$Ada<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Djed?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Djed<\/a> <a href=\"https:\/\/t.co\/cu8ryW6Lo7\" rel=\"nofollow\">pic.twitter.com\/cu8ryW6Lo7<\/a><\/p>\n<p>\u2014 Djed Stablecoin (@DjedStablecoin) <a href=\"https:\/\/twitter.com\/DjedStablecoin\/status\/15509506?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 21, 2022<\/a><\/p><\/blockquote>\n<h2><strong>Adapting To Optimism<\/strong><\/h2>\n<p>According to CoinGecko, the <a href=\"https:\/\/www.coingecko.com\/en\/coins\/cardano\" target=\"_blank\" rel=\"noopener nofollow\">price of ADA<\/a> rose by 4.7% after the news. Likewise, TVL has risen from yesterday&#8217;s level of $64.9 million\u00a0to today&#8217;s $68.52 million.<\/p>\n<p>Investors and dealers may be stocking up on ADA in preparation for a price surge.<\/p>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-509834 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/c1-10.png?resize=750%2C368\" alt=\"\" width=\"750\" height=\"368\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/c1-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/c1-10.png?w=460 460w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\"> Image: TradingView<\/pre>\n<p>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&#8217;s Twitter post:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">How is this different from luna\u2019s UST<\/p>\n<p>\u2014 Moche (@mocheswap) <a href=\"https:\/\/twitter.com\/mocheswap\/status\/58696961?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 21, 2022<\/a><\/p><\/blockquote>\n<p>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<p>However, the Money flow index appears to contradict a value of 60, indicating a possible reversal.<\/p>\n<p>Correlation also contradicts the regression pattern, since ADA&#8217;s significant correlation (0.94) with a rising BTC will undoubtedly be beneficial.<\/p>\n<h2><strong>Unquestionably Still Bearish<\/strong><\/h2>\n<p>However, RSI values remain neutral. With the price action establishing a double bottom, however, a decline below $0.2985 remains probable.<\/p>\n<p>An coming Bollinger band crunch zone will also threaten an additional bullish recovery.<\/p>\n<p>The announcement is welcomed with enthusiasm and anticipation by the community. However, the cryptospace&#8217;s past experiences and the current bear market provide a formidable obstacle for investors and traders.<\/p>\n<p>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<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/world-cup-2022-chiliz-slides-15-as-sports-spectacle-unfurls-can-chz-make-a-goal\/\" target=\"_blank\" rel=\"noopener \">World Cup 2022: Chiliz Slides 15% As Sports Spectacle Unfurls \u2013 Can CHZ Make A Goal?<\/a><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/TA7MJIuE\/\" width=\"2047\" height=\"979\"><\/p>\n<pre style=\"text-align: center\">ADA total market cap at $10.8 billion on the daily chart | Featured image from CoinCu News, Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>You can call it Djed, but the game is stablecoin. According to reports, Cardano&#8217;s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023. They call this type of stablecoin &#8220;algorithmic,&#8221; which means that the asset&#8217;s stability is guaranteed by some very advanced, but (they say) &#8220;ultimately important,&#8221; mathematics. Cardano collaborated with COTI on this mammoth project. in light of Djed&#8217;s declaration, let us quickly review ADA&#8217;s persformance of late: Price activity as of late indicates further pain If Crunchzone rises above $0.3160, the bears will gain even greater power That&#8217;s a portent of fantastic things to come for Cardano A stablecoin might be a fantastic entry point for newcomers to the expanding Cardano ecosystem. When will ADA respond to this? Related Reading: Polygon Poised For A Major Advance Next Year If MATIC Stays On This Course It&#8217;s official! $Djed will launch on the Cardano Mainnet in January 2023! \ud83d\ude80$Coti $Ada #Djed pic.twitter.com\/cu8ryW6Lo7 \u2014 Djed Stablecoin (@DjedStablecoin) November 21, 2022 Adapting To Optimism According to CoinGecko, the price of ADA rose by 4.7% after the news. Likewise, TVL has risen from yesterday&#8217;s level of $64.9 million\u00a0to today&#8217;s $68.52 million. Investors and dealers may be stocking up on ADA in preparation for a price surge. Image: TradingView 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&#8217;s Twitter post: How is this different from luna\u2019s UST \u2014 Moche (@mocheswap) November 21, 2022 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. However, the Money flow index appears to contradict a value of 60, indicating a possible reversal. Correlation also contradicts the regression pattern, since ADA&#8217;s significant correlation (0.94) with a rising BTC will undoubtedly be beneficial. Unquestionably Still Bearish However, RSI values remain neutral. With the price action establishing a double bottom, however, a decline below $0.2985 remains probable. An coming Bollinger band crunch zone will also threaten an additional bullish recovery. The announcement is welcomed with enthusiasm and anticipation by the community. However, the cryptospace&#8217;s past experiences and the current bear market provide a formidable obstacle for investors and traders. 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. Related Reading: World Cup 2022: Chiliz Slides 15% As Sports Spectacle Unfurls \u2013 Can CHZ Make A Goal? ADA total market cap at $10.8 billion on the daily chart | Featured image from CoinCu News, Chart: TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":509822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,12332,1558,11164,4078],"class_list":["post-509814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-cardano","tag-cryptocurrency","tag-stablecoin","tag-technical-analysis"],"acf":[],"yoast_head":"\n<title>Cardano (ADA) Stablecoin Unveiling Is Just Around The Corner<\/title>\n<meta name=\"description\" content=\"According to reports, Cardano&#039;s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano (ADA) Stablecoin Unveiling Is Just Around The Corner\" \/>\n<meta property=\"og:description\" content=\"According to reports, Cardano&#039;s stablecoin, Djed, will be released on the Cardano mainnet in the first month of 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-23T11:47:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-23T12:31:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Cardano.png?fit=827%2C429\" \/>\n\t<meta property=\"og:image:width\" content=\"827\" \/>\n\t<meta property=\"og:image:height\" content=\"429\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"Cardano Stablecoin Unveiling Is Just Around The Corner &#8211; 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Stablecoin Unveiling Is Just Around The Corner &#8211; Will This Boost ADA Price?","url":"http:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Cardano.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Cardano.png?fit=827%2C429"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","cardano","cryptocurrency","stablecoin","technical analysis"],"dateCreated":"2022-11-23T11:47:32Z","datePublished":"2022-11-23T11:47:32Z","dateModified":"2022-11-23T12:31:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Stablecoin Unveiling Is Just Around The Corner &#8211; Will This Boost ADA Price?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-stablecoin-unveiling-is-just-around-the-corner-will-this-boost-ada-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Cardano.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Cardano.png?fit=827%2C429\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"cardano\",\"cryptocurrency\",\"stablecoin\",\"technical analysis\"],\"dateCreated\":\"2022-11-23T11:47:32Z\",\"datePublished\":\"2022-11-23T11:47:32Z\",\"dateModified\":\"2022-11-23T12:31:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Cardano.png?fit=827%2C429","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=509814"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/509814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/509822"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=509814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=509814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=509814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}