Djed stablecoin deploys on Cardano's EVM-compatible sidechain, unlocking potential expansion and liquidity. Despite a recent downtrend, ADA's trend remains bullish.
This marked the third deployment for the stablecoin, but it was particularly noteworthy as the first deployment on Solidity. This development opens the door for future expansion onto numerous other EVM-compatible blockchains.data indicated that the stablecoin had a circulating supply of over 3.2 million as of this writing. Moreover, in the past 24 hours, it had seen a trading volume of roughly $97,000 and an over 30% decline in volume in the last 24 hours.
Djed’s recent deployment on an EVM-compatible sidechain of Cardano is a significant development that could extend the stablecoin’s utility beyond Cardano’s ecosystem. It could also offer greater liquidity to the ecosystem. According toAs of writing, the TVL was at an impressive $154.73 million, and Djed Stablecoin had contributed $15.59 million to this figure. The TVL has been on an upward trend recently, although a slight downtrend has been observed as of this writing.
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