• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
Cardano

Cardano Shows Big Promise For February – Will ADA Get Some Love At $1?

Christian Encila
by Christian Encila
2 years ago
·
Posted in Cardano, Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

ADA, the governance token of the Cardano ecosystem, has benefited from the renewed sentiment in the crypto market. Coingecko data shows that the token rose by over 58% in the monthly time frame while simultaneously showing green in other time slots.

This is caused by several internal and external developments in the Cardano ecosystem and the crypto industry as a whole.

The market for cryptocurrencies is in the middle of a rally that made the majority of cryptos, Cardano included, recover lost ground when the bears clawed their way through 2022.

Chart: Coingecko

CoinMarketCap data shows the crypto market currently maintaining a total market capitalization of a little over $1.07 trillion. 

Related Reading: Blockchain For Traceability: Thailand’s Biggest Food Exporter Uses Tech To Monitor Goods

Meanwhile, Djed – Cardano’s stablecoin in collaboration with COTI – is expected to be released in the next few days. This stablecoin is expected to boost ADA  price, and perhaps help propel the crypto towards $1.

With major cryptocurrencies also continuing their rallies, we might see the token on or above the $1 mark.

How Does Djed Work? 

Djed is an overcollateralized stablecoin built on top of Cardano to support the ecosystem. The stablecoin, unlike other stablecoins, won’t be backed by fiat currencies or complex algorithms. Djed would be backed by other cryptocurrencies likE ADA and SHEN. 

SHEN, the reserve token of the Djed ecosystem, would maintain the stablecoin’s stability while ADA can be used to stake in the ecosystem to mint Djed. According to available information, the ratio would be between 400-800% of the backing tokens. 

Djed will be the first stablecoin to integrate a formal verification process to guarantee that its price is stable, making it a major new entry for decentralized finance (DeFi) transactions.

$1 Target – Short Or Long Term?

ADA bulls are currently targeting $1 as they speculate that the release of Djed would cause a boom in the price of the token. However, the token’s price has hit a resistance range at $0.4. This could hinder the token’s further upward movement. 

The $1 mark would be the bull’s long term target as the Djed rolls out. Investors and traders could try to consolidate at its current support which is at $0.3816.  If the bulls are successful, the $1 target could actually be a reality in the long term. 

ADA total market cap at $13 billion on the daily chart | Chart: TradingView.com
Related Reading: Top 5 Cryptos To Watch In The 1st Week Of February – BTC, APT, FTM, AVAX, MATIC

Investors and traders should also be careful in the short to medium term as the token’s price might retreat due to the rejection. However, they can rely on ADA’s correlation with major cryptocurrencies like Bitcoin and Ethereum that broke their respective resistances.

Monitoring their respective price movements could help with decision making in the medium and long term. With the Cardano stablecoin’s release around the corner, ADA bulls might be able to regain some lost ground with a possible break through $1. 

Featured image from The Altcoin Oracle

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

MEXC’s Zero-Fee Futures Strategy Fuels Record Q2 Growth

MEXC’s Zero-Fee Futures Strategy Fuels Record Q2 Growth as Traders Pivot to Stablecoins and DeFi

5 hours ago
Cardano

Cardano Secures The Crown: Now The Most Decentralized Blockchain On Earth – Here’s How

5 hours ago
BingX Debuts $WLFI Token with WLFI Listing Carnival

BingX Debuts $WLFI Token with WLFI Listing Carnival

9 hours ago
voyager-crypto-emirates-paiement-xrp-bitcoin

Emirates ouvre ses vols aux paiements XRP et Bitcoin

10 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 2)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (September 3)

6 hours ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 3)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (September 3)

6 hours ago

Premium Sponsors

Press Releases

  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    2 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    2 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    2 hours ago
  • Ethereum Price USD: The Latest Innovations of Crypto’s...

    4 hours ago
  • XRP Cloud Mining

    New Crypto Moves: FOR CRYPTO Launches AI Cloud...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.