Last Updated: August 2, 2023
• Cardano’s (ADA) cryptocurrency is gaining despite the failure of crypto-friendly traditional banks.
• Cardano founder Charles Hoskinson has taken a jab at how traditional banks handle their reserve assets compared to crypto companies.
• DJED, a decentralized stablecoin built on the Cardano network, has seen an increase in trading volume over the past 24 hours.
Cardano (ADA) Price Uptrend
Cardano’s native cryptocurrency, ADA, is turning heads as it continues to rise against market-wide turmoil and bearish trends. On March 10th, ADA did dip to $0.30 but has since recovered due to positive momentum in the crypto market and its own developments, events, and partnerships.
Hoskinson Responds To Stablecoin Crisis
In response to the recent de-banking fiasco involving Silicon Valley Bank, Silvergate and Signature Bank, Cardano founder Charles Hoskinson has taken a jab at how traditional banks handle their reserve assets compared to crypto companies. He believes that governments are unfairly punishing cryptocurrencies for issues caused by traditional financial institutions.
DJED Trading Volume Increases
DJED is the network’s native decentralized stablecoin which has seen a notable increase in trading volume over the past 24 hours with 43.64% surge according to CoinMarketCap data. It has also gained a bigger premium to the market than Tether (USDT) following recent stablecoin drama unfolding in the industry.
The Age Of Voltaire
The Cardano ecosystem is currently aligning into its next and final phase known as “The Age of Voltaire” during which notable growth and developments have been recorded across the network powering it forward despite ongoing market turbulence.
Cardano Community Resilience
The resilience of Cardano’s community was appreciated by Chris O who was later retweeted by Charles Hoskinson himself commending this positivity amidst a tumultuous time for cryptocurrencies as a whole.