Cardano

Future

<ul> 
 <li><em>Cardano faced a setback as the much-anticipated stablecoin launch was delayed.</em></li> 
 <li><em>ADA’s price, sentiment, and protocol activity bore the brunt of the news.</em></li> 
</ul> 
<p>On the 9th of January, an X (formerly Twitter) post by Matthew Plomin revealed that the launch of <a href="https://ambcrypto.com/search/Cardano" target="_blank" rel="noopener" data-wpel-link="internal">Cardano’s [ADA]</a> stablecoin USDM had been postponed.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Good morning <a href="https://twitter.com/hashtag/cardano?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">#cardano</a>. </p> 
 <p>People deserve a straightforward explanation for why <a href="https://twitter.com/search?q=%24USDM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$USDM</a> has been delayed. </p> 
 <p>Here is our transparent response:</p> 
 <p>The <a href="https://twitter.com/search?q=%24USDM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">$USDM</a> Delay and Why it is Important for Cardano’s Future <a href="https://t.co/PBZXBBDC2u" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">https://t.co/PBZXBBDC2u</a></p> 
 <p>— M₳tthΣw Plomin | $USDM launch whenever it’s ready (@MatthewPlomin) <a href="https://twitter.com/MatthewPlomin/status/1744743680957649030?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">January 9, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>  
<p>The post attributed the setback to audit recommendations from Sundae Labs. Moreover, Cardano’s development team cited the need for multiple changes to the smart contracts governing the stablecoin.</p> 
<p>These adjustments, coupled with necessary testing time and holiday-related delays, have left the future of the stablecoin uncertain. However, Cardano may be eyeing a new target launch date of the 16th of March 2024.</p> 
<h4>What now?</h4> 
<p>The delay has raised questions about Cardano’s ability to adhere to timelines, potentially impacting the project’s credibility and the value of ADA.</p> 
<p>Investors and enthusiasts, who had eagerly awaited the stablecoin launch, may now reconsider their expectations and confidence in the Cardano blockchain.</p> 
<h4>State of Cardano</h4> 
<p>The delay cast an understandable shadow over Cardano’s overall sentiment in the market. Notably, there was a marked decline in the network’s protocol activity and transactions.</p> 
<p>This reduction in user activity could pose challenges for Cardano’s ecosystem growth and sustainability, moving forward</p> 
<p>Cardano faced setbacks in the decentralized finance (DeFi) realm as well, with drops in Total Value Locked (TVL) and Decentralized Exchange (DEX) volumes.</p> 
<p>The decline in TVL suggested diminished user engagement and capital influx, impacting the vibrancy of the DeFi ecosystem on the Cardano network.</p> 
<div id="attachment_363090" style="width: 100%" class="wp-caption alignnone">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-363090" decoding="async" class="size-full wp-image-363090" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM.png" alt="" width="2452" height="946" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM.png 2452w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM-300x116.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM-1024x395.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM-768x296.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM-1536x593.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Screenshot-2024-01-10-at-2.31.27 PM-2048x790.png 2048w" sizes="(max-width: 2452px) 100vw, 2452px"></a>
 <p id="caption-attachment-363090" class="wp-caption-text">Source: Artemis</p>
</div>  
<p style="text-align: center;">Is your portfolio green? Check out the&nbsp;<a href="https://ambcrypto.com/calculator/cardano-profit-calculator" target="_blank" rel="noopener" data-wpel-link="internal">ADA Profit Calculator</a></p>  
<p>ADA’s price bore the brunt of the recent news as well, as it declined by 4.58% in the last 24 hours, trading at $0.503109 at press time.</p> 
<p>The velocity of ADA transactions fell, signaling a slowdown in overall network activity. This negative price movement signaled diminishing investor confidence in ADA and Cardano as a whole.</p> 
<div id="attachment_363088" style="width: 100%" class="wp-caption alignnone">
 <a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-363088" decoding="async" class="size-full wp-image-363088" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Cardano-ADA-14.33.41-10-Jan-2024-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <p id="caption-attachment-363088" class="wp-caption-text">Source: Santiment</p>
</div>

Cardano delays USDM launch: Will ADA face the music?

AMBCrypto

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