{"id":309742,"date":"2023-05-01T13:00:34","date_gmt":"2023-05-01T07:30:34","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=309742"},"modified":"2023-05-01T12:15:44","modified_gmt":"2023-05-01T06:45:44","slug":"djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\/","title":{"rendered":"Djed expands to EVM-compatible sidechain: Gauging its implications on ADA"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Djed stablecoin was deployed on Cardano&#8217;s EVM-compatible sidechain.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Cardano&#8217;s trading volume and price have recently shown a downtrend, but ADA&#8217;s trend remained bullish, albeit weak.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"http:\/\/ambcrypto.com\/will-djed-make-the-most-of-stablecoin-turmoil-heres-what-the-metrics-say\/\" target=\"_blank\" rel=\"noopener\">Djed<\/a>, Cardano [ADA] network&#8217;s stablecoin, recently announced a significant development: it will be deployed to an Ethereum Virtual Machine (EVM) compatible sidechain. This news raised important questions about its implications for <a href=\"http:\/\/ambcrypto.com\/cardano-releases-a-major-update-on-voltaire-era-will-ada-make-the-most-of-it\/\" target=\"_blank\" rel=\"noopener\">Cardano<\/a>, its native cryptocurrency ADA, and the stablecoin.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/cardano-profit-calculator\" target=\"_blank\" rel=\"noopener\">Cardano Profit Calculator<\/a><\/p>\n<hr \/>\n<h3><b>Djed deploys on the Cardano side chain<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Djed Alliance made a major <a href=\"https:\/\/twitter.com\/DjedAlliance\/status\/1652088019980042241\" target=\"_blank\" rel=\"noopener\">announcement<\/a> on 29 April, revealing its latest stablecoin protocol deployment. The Djed Stablecoin was available on <a href=\"https:\/\/milkomeda-c1.djed.one\/\" target=\"_blank\" rel=\"noopener\">Milkomeda-C1<\/a>, an EVM-compatible sidechain of the <a href=\"http:\/\/ambcrypto.com\/cardano-traders-choose-sides-but-could-ada-be-ready-for-a-bull-run\/\" target=\"_blank\" rel=\"noopener\">Cardano<\/a> network. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This marked the third deployment for the stablecoin, but it was particularly noteworthy as the first deployment on Solidity. This development opens the door for future expansion onto numerous other EVM-compatible blockchains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/coinmarketcap.com\/currencies\/djed\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap&#8217;s<\/a> data indicated that the stablecoin had a circulating supply of over 3.2 million as of this writing. Moreover, in the past 24 hours, it had seen a trading volume of roughly $97,000 and an over 30% decline in volume in the last 24 hours.<\/span><\/p>\n<h3><b>Djed adds to Cardano&#8217;s TVL<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Djed&#8217;s recent deployment on an EVM-compatible sidechain of Cardano is a significant development that could extend the stablecoin&#8217;s utility beyond Cardano&#8217;s ecosystem. It could also offer greater liquidity to the ecosystem. According to <a href=\"https:\/\/defillama.com\/chain\/Cardano\" target=\"_blank\" rel=\"noopener\">DefiLlama&#8217;s<\/a> data on Cardano&#8217;s total value locked (TVL), Djed ranked as the fifth-highest contributor.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of writing, the TVL was at an impressive $154.73 million, and Djed Stablecoin had contributed $15.59 million to this figure. The TVL has been on an upward trend recently, although a slight downtrend has been observed as of this writing. These figures reflected the increasing adoption and usage of Djed Stablecoin in the decentralized finance (DeFi) space on Cardano&#8217;s blockchain.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 ADAs worth today?<\/p>\n<hr \/>\n<h3><b>Volume and price movement of ADA<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Recent trends in <a href=\"http:\/\/ambcrypto.com\/cardano-ada-ready-for-a-blast-off-past-0-42-but-only-if\/\" target=\"_blank\" rel=\"noopener\">Cardano&#8217;s<\/a> (ADA) trading volume, according to Santiment, have shown a downtrend in the past few days. As of this writing, the volume stood at around 156 million, dropping significantly from over 500 million on 27 April.\u00a0<\/span><\/p>\n<figure id=\"attachment_309747\" aria-describedby=\"caption-attachment-309747\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-309747\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023.png\" alt=\"Cardano volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Cardano-ADA-14.21.01-30-Apr-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-309747\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Along with the volume, the price had also been declining lately, trading at roughly $0.40 at press time, with a decline of less than 1%. Despite this dip, the trend remained bullish, albeit a weak one.<\/span><\/p>\n<figure id=\"attachment_309749\" aria-describedby=\"caption-attachment-309749\" style=\"width: 1791px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20.png\"><img decoding=\"async\" class=\"size-full wp-image-309749\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20.png\" alt=\"ADA\/USD daily timeframe price move\" width=\"1791\" height=\"675\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20.png 1791w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20-300x113.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20-1024x386.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20-768x289.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/ADAUSD_2023-04-30_14-23-20-1536x579.png 1536w\" sizes=\"(max-width: 1791px) 100vw, 1791px\" \/><\/a><figcaption id=\"caption-attachment-309749\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Djed stablecoin deploys on Cardano&#8217;s EVM-compatible sidechain, unlocking potential expansion and liquidity. Despite a recent downtrend, ADA&#8217;s trend remains bullish.<\/p>\n","protected":false},"author":70,"featured_media":309797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-309742","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Djed expands to EVM-compatible sidechain: Gauging its implications on ADA - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Djed stablecoin on Cardano recently deployed on Milkomeda, an EVM sidechain on Cardano, to expand its reach and utility.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Djed expands to EVM-compatible sidechain: Gauging its implications on ADA - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Djed stablecoin deploys on Cardano&#039;s EVM-compatible sidechain, unlocking potential expansion and liquidity. Despite a recent downtrend, ADA&#039;s trend remains bullish.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-01T07:30:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/ada-wale.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Djed expands to EVM-compatible sidechain: Gauging its implications on ADA\",\"datePublished\":\"2023-05-01T07:30:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/\"},\"wordCount\":415,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/ada-wale.png\",\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/djed-expands-to-evm-compatible-sidechain-gauging-its-implications-on-ada\\\/\",\"name\":\"Djed expands to EVM-compatible sidechain: Gauging its implications on ADA - 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