• Cardano has seen a significant price increase over the last few days, largely due to its recent sidechain toolkit launch.
• The network recently added over 50,000 wallets to its protocol, and its market cap has risen from $8.48 billion to $13 billion.
• Djed, a stablecoin, is set to launch on the Cardano network next week.
Cardano has been making remarkable strides in the cryptocurrency space over the last few days, with its price reaching a record high and its network expanding. The Cardano project has seen its market cap skyrocket from $8.48 billion to $13 billion and its network recently added over 50,000 wallets to its protocol.
The recent surge in the price of Cardano (ADA) is largely attributed to its sidechain toolkit launch on the Cardano network. The Sidechain Toolkit allows developers to create decentralized applications (dApps) on the Cardano network, which has in turn resulted in an influx of users. Yevhen, a Cardano ambassador, was delighted to announce that the total Cardano wallets increased from 3,842,867 on January 1 to 3,894,735 registered wallets by January 25, 2023.
The Cardano team has now set an official launch date for its Djed stablecoin project. On January 25, Shahaf Bar-Geffen, of the COTI network, announced that Cardano’s stablecoin Djed will launch next week. Djed is a stablecoin that the developers intend to use to power the Cardano economy, and is a key part of the network’s ambitions to become a fully-fledged platform.
Cardano has seen a remarkable surge in its price, its market cap, and the number of users on its network, and the launch of its stablecoin is likely to further propel its growth. As the project continues to develop, it may become one of the leading players in the cryptocurrency market.