With most assets doing well and even laying some groundwork for the rally to continue next week, both the cryptocurrency and conventional markets are concluding the week on a high note. The market’s current position is everything from predictable, so it’s crucial to exercise caution.
With the introduction of its new Djed stablecoin, the smart contracts platform and cryptocurrency are expanding. A new stage of growth for the asset could be enabled by the recent accession to the Cardano ecosystem.
Cardano has been without a reliable financing source for years, but the launch of the Djed stablecoin may completely change that. With a consistent supply of income and interest in the asset, the stablecoin presents Cardano with a new use case. This may thus contribute to increasing the platform’s value and improving its performance on the market.
Cardano’s developers hope to offer a reliable, decentralized substitute for conventional fiat-pegged stablecoins with the introduction of the Djed stablecoin. The new platform component is intended to be more dependable, open, and secure, providing a variety of advantages for both users and investors.
After a massive buildup of whale-tier addresses on the network as a result of the publication of Andre Cronje’s 13 reasons to pick FTM, Fantom (FTM) has witnessed a considerable increase in value, with a gain of over 74%. Since the start of the reverse rally in January, FTM has been one of the best performers on the cryptocurrency market thanks to its outstanding performance.
A smart contract platform called Fantom makes use of the potential of directed acyclic graphs (DAG). The platform quickly and effectively provides DeFi solutions to developers because of its cutting-edge consensus mechanism.
The platform’s native token, FTM, which is essential to realizing its goal of overcoming the difficulties encountered by conventional smart contract platforms, is at its center. The speed of transactions is one of the main issues that Fantom seeks to address.
The recent commercial success of Fantom is evidence of the company’s potential to become a dominant force in the DeFi sector. Investors are becoming more aware of the potential of high-risk assets like FTM as the cryptocurrency market continues to rebound, and its recent increases are proof of the increased risk appetite among investors.
By market capitalization, Ethereum, the second-largest cryptocurrency, has lately made substantial strides above the critical 200-day moving average technical threshold. This achievement may result in the occurrence of a significant “golden cross” signal, which is a crossover of the 200-day and 50-day moving averages and is regarded as the primary sign of an impending long-term market reversal.
The golden cross is frequently seen as a positive sign for the cryptocurrency market since it shows that the long-term trend is changing in favor of the bulls and the short-term trend is gaining strength. A golden cross for Ethereum might portend a large price gain for the commodity over the coming several months as investors grow more optimistic about the state of the market as a whole. Ethereum, however, was unable to make a breakout yesterday and swiftly turned back after reaching the $1,700 price mark.