Cardano

Glimpse

USDC

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardanos-ecosystem-and-the-rise-of-dex-volume-a-glimpse-into-adas-performance/" data-wpel-link="internal">Cardano’s Ecosystem and the Rise of DEX Volume: A Glimpse into ADA’s Performance</a><br></p>
<p style="text-align: justify"><strong>Cardano</strong> (<a href="https://en.coin-turk.com/why-are-whales-abandoning-cardano-ada/" data-wpel-link="internal">ADA</a>) had carved out a significant share for itself from the increased interest in altcoins last month, attracting investor attention with a major surge. Since the beginning of the month, however, it seems to be witnessing a correction. With its strong stance and stable structure, the growing interest in the Cardano ecosystem could always open the door for a new rise for ADA.</p> 
<h2 style="text-align: justify" id="increase-in-dex-volume">Increase in DEX Volume</h2> 
<p style="text-align: justify">There appears to be an increase in demand within the Cardano ecosystem. Indicating this increased demand, a noticeable rise in DEX popularity was observed. More than 10.5 million ADA in volume increase was observed at MiniSwap, one of the most popular DEXs in the Cardano ecosystem.</p> 
<p style="text-align: justify">This increase in DEX volumes reflects a positive outlook specific to Cardano, mirroring increased activity and participation in the ecosystem. In addition, there are some obstacles for Cardano in the DeFi sector as well.</p> 
<h2 style="text-align: justify" id="has-the-stablecoin-era-begun">Has the Stablecoin Era Begun?</h2> 
<p style="text-align: justify">The delay in the launch process of the USDM stablecoin initially had a negative impact on Cardano and the sensitivity around the DeFi sector.</p> 
<p style="text-align: justify">However, with the re-announced launch date, the introduction of a Cardano-specific stablecoin named USDM could signify accelerated development in the DeFi environment of the Cardano protocol.</p> 
<p style="text-align: justify">Furthermore, a new discussion has recently emerged. The debate brings with it question marks regarding the potential implementation of USDC on Cardano. Such a development could contribute significantly to Cardano’s growth and adoption, as well as increase its appeal and attractiveness.</p> 
<p style="text-align: justify">Despite these developments, according to data provided by Artemis, a decline in stablecoin growth within the Cardano protocol was observed. The speculated launch date of USDM and the potential integration of USDC could take Cardano to a different position in the future.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-303151" src="https://coin-turk.com/wp-content/uploads/2024/01/cardano-usdm.png" alt="" width="705" height="286"></p> 
<p style="text-align: justify">Speaking of negative developments, a decrease in daily active addresses was observed, and the number of transactions also decreased accordingly. Such a decline in the Cardano network could have an adverse effect on the positive outlook of the ecosystem.</p> 
<p style="text-align: justify">As of the time of writing, ADA is trading at $0.53776, experiencing a relatively small decrease of 1.26% in the last 24 hours. ADA’s 24-hour trading volume also decreased by 17%, staying below $300 million. In addition, the overall volume decline has not gone unnoticed by investors, falling below $19 billion.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-303149 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/cardano-en-alt.png" alt="" width="701" height="234"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cardanos-ecosystem-and-the-rise-of-dex-volume-a-glimpse-into-adas-performance/" data-wpel-link="internal">Cardano’s Ecosystem and the Rise of DEX Volume: A Glimpse into ADA’s Performance</a></h5>

Cardano’s Ecosystem and the Rise of DEX Volume: A Glimpse into ADA’s Performance

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