Djed, the stablecoin issued by Cardano, has recently hit its all-time high in circulation, with more than 4.24 million coins minted. The notable characteristic of Djed is the reserve ratio of 400%. This not only adds an extra layer of security to the stablecoin, but also ensures its stability. All this is achieved by having a higher amount of minted coins than its current circulating supply. This is also kept up to date for continuous assurance of stability, as 16.89 million Djed is equal to a whopping 38.7 million ADA.
The surge in circulation of Djed has been a happy surprise for the cryptocurrency community, as it was accompanied by two other encouraging events. Firstly, the trading volume of Djed increased by over 38% in the last day, accoridng to CoinMarketCap data. Moreover, COTI saw a growth of more than 30% in its quotations in the last eight days. COTI is a native token of the company that emits Djed, and as a part of their incentive structure, holders and stakers of COTI receive income due to the turnover of Djed.
Overall, these statistics are great signs for all the stakeholders involved, including IOG and COTI and those who choose to use Djed. The surge in the usage of their stablecoin offers significant prospects for their customers who can benefit from even more secure and reliable operation.
Nicholas Howard
- 2023-04-17
Cardano's Djed Stablecoin Achieves All-Time High
Cardano's stable coin, Djed, has recently hit its all-time high in circulation, with more than 4.24 million coins minted. The surge in circulation has been a happy surprise for the cryptocurrency community, with a 38% increase in trading volume and a 30% growth in COTI quotations.
