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Cardano Price Forecast as Cardano Prepares to Launch New Algorithmic Stablecoin in 2023

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cryptonews.com

The cryptocurrency market continues to wade through the murky red waters of a bearish trend – made worse by the collapse of FTX.

Despite the negative market mood, ADA has so far held well against the rest of the market, down only 0.6% in the past 24 hours.The Cardano ecosystem continues to grow despite the bear market.

According to the latest updates from the crypto space, DJED will be the first algorithmic stablecoin to launch on Cardano's mainnet in January 2023.The team confirmed the launch of the stablecoin on the mainnet during the Cardano Summit 2022.Currently, the team at DJED is working around the clock to develop a payment platform and cryptocurrency gateway referred to as Djed Pay.

This payment gateway will enjoy the support of the Cardano Foundation, elevating its status among businesses. DJED will also help investors manage risk, given recent events in the crypto market.Cardano's price is struggling to hold above a critical level, as highlighted by the gray band at $0.30 (S-1).

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