Stablecoin

Cardano

Future

Hydra

DeFi

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardanos-stablecoin-ecosystem-experiences-remarkable-growth/" data-wpel-link="internal">Cardano’s Stablecoin Ecosystem Experiences Remarkable Growth</a><br></p>
<p style="text-align: justify">The emergence of a <strong>stablecoin</strong> ecosystem within the Cardano network had not been discussed until now. According to the latest quarterly report by Messari, there has been a 673% annual growth in the value of stablecoins on the Cardano network. This places Cardano at the forefront among stablecoin market players.</p> 
<h2 style="text-align: justify" id="unprecedented-growth-in-stablecoin-market-value">Unprecedented Growth in Stablecoin Market Value</h2> 
<p style="text-align: justify">The report shows that iUSD is the main stablecoin in Cardano’s ecosystem and has become the backbone of its impressive growth. The fiat-backed stablecoin named USDM is planned to be launched in March.</p> 
<p style="text-align: justify">Messari’s fourth-quarter report highlights the expansion of the ecosystem. This includes the total value locked in USD and the value of locked stablecoins. The total value locked in USD saw a 166% increase in the last quarter, while the total value locked in stablecoin-focused assets showed a significant increase of 37%. The current rise in liquidity has dramatically shifted the overall market position, elevating the already impressive turnover from 34th to 16th place in DefiLlama TVL.</p> 
<p style="text-align: justify">Cardano’s stablecoin market is also gaining strength with each upcoming upgrade, which improves its core infrastructure and offers more and better protocol proposals. The announcement of the next development stage, Midnight, the implementation of an open Substrate version for enhanced storage, and a family of scaling protocols called Hydra V0.14.0, are signs of Cardano’s commitment to technological innovation. Hydra Head includes royalty-free, mini-ledger-based off-chain solutions that make crypto transactions easier and cheaper.</p> 
<h2 style="text-align: justify" id="what-future-awaits-cardano">What Future Awaits Cardano?</h2> 
<p style="text-align: justify">The explosive growth of Cardano’s stablecoin sector could have wide-ranging effects. There are clear signs of a growing “strong user” base, evidenced by the daily average transaction increase and the rise in the ratio of transactions to active addresses.</p> 
<p style="text-align: justify">This high level of activity per user is largely attributed to the proliferation of DeFi protocols on the Cardano platform. These developments also showcase Cardano’s potential to host a diverse range of <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> services.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-315404 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/ada-coin-turk-com-.png" alt="" width="1564" height="836"></p> 
<p style="text-align: justify"><a href="https://en.coin-turk.com/cardano-ada-faces-value-losses-as-crypto-market-continues-to-decline/" data-wpel-link="internal">ADA</a>, the native token of <strong>Cardano</strong>, has seen a price increase of 3.17% in the last 24 hours, reaching $0.59. This reflects the market’s optimistic outlook. This price movement and the 127.2% increase in the fourth quarter significantly outpace the growth of the overall crypto market, highlighting investors’ confidence in the future of Cardano.</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-stablecoin-ecosystem-experiences-remarkable-growth/" data-wpel-link="internal">Cardano’s Stablecoin Ecosystem Experiences Remarkable Growth</a></h5>

Cardano’s Stablecoin Ecosystem Experiences Remarkable Growth

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