- DJED is Cardano’s over-collateralized algorithmic stablecoin.
- DJED will use SHEN as its reserve coin.
- The launch of DJED on the mainnet is predicted to happen this month.
Cardano (ADA) worth has risen by 7.7% over the past week and by 45% over the past month as the general crypto market restoration features momentum. It’s amongst these cryptocurrencies which have gained probably the most within the wake of the market restoration for the reason that begin of 2023.
Nevertheless, along with the overall market restoration, the bullish Cardano market sentiment can be supported by the much-awaited launch of the DJED stablecoin on the mainnet which is scheduled for this month. And simply earlier than the launch takes place, Bitrue, a well-liked Singapore-based crypto trade, has introduced plans to record the DJED stablecoin along with SHEN, its reserve coin.
Bitrue to record DJED stablecoin
Bitrue disclosed its plans to record DJED through an official weblog launch on its web site adopted by a tweet from COTI Community about the identical.
Thanks @BitrueOfficial https://t.co/enMgq3Ad6x
— COTI (@COTInetwork) January 24, 2023
This can make Bitrue the primary cryptocurrency trade to record the much-anticipated stablecoin as soon as it’s launched. Nevertheless, for the reason that stablecoin is but to be launched, the trade will announce the itemizing quickly after the launch of the stablecoin.
Bitrue has had a long-standing relationship with the Cardano community in addition to with the Cardano group which might be the rationale behind the plan to record DJED and SHEN. The trade introduced ADA as one in all its base currencies final February and some months after it contributed 1 million ADA to a number of ADA staking swimming pools to help the decentralization of the Cardano community.
In addition to itemizing the 2 cash, Bitrue additionally plans to introduce DJED and SHEN staking in future.