CARDANO IN A GOOD SPOT TO RUN

The overall crypto market is having kind of outstanding kind to the weekend if you will, seeing a nice trek into the green. However, as it relates to Cardano which is the number 8 crypto in total market capitalization rounding puts it at 30 cents and fiat on the day. Continuing its trek into the red by 5.4% in the month. It is leaving that 40 cents getting down below that psychological barrier. I will see Cardano hit 50 cents, that will put us in a good position where we could see the rest of crypto as well as Cardano in a good spot to run. But now trading at 30 cents, that is something where it could go either way as it relates to what Cardano is doing. We need to get some support and bounce back these levels of these levels and kind of rally back up to 40 cents.

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However, with what is going on what the recent macroeconomic landscape as well as inflationary data and continuing the regulation standpoints that the Federal Government and the SEC are looking to implement. We need some positive sentiment coming out of that side of the game just to get Cardano and all the other cryptos back into bullish territory. Djed looks to gain traction as it overtook USDT due to the stablecoin drama over the weekend. In recent days, Djed has gained a premium over the market and even trading over a dollar. This is a prime example of what is happening when you look at stablecoin and how stablecoin regulation is becoming a thing and the asset backing these stablecoins is critical for the success of this stablecoin.

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More matter how successful Djed is as a stablecoin should never have a value of $1.08, that is just absurd. USDC on the other hand should never value $0.5, getting down to 97 98 cents and causing a two million panic. Djed is taking off and gaining more dominance over USDC due to the recent turmoil that is going on with stable on the stablecoin. USDT has been affected by its, it has no collaboration with the bankruptcy of Silvagate and anything that is happening in terms of what has happened over the weekend. We are talking about 73.5 billion dollars in USDT and Djed's trading value is $545,000, up 268% over the last two days. Cardano's backed stablecoin is the winner of this unfortunate event and this crisis has been the first big test for Djed. It's been over a month seen since it has launched and been an algorithm stablecoin with redundant collateral, that is where you're going to be seeing this mechanism get tested.