One of the big announcements to come out of the 2021 Cardano Summit was the launch of a new stablecoin, Djed. Cardano’s (ADA) founder Charles Hoskinson said, “The Djed stablecoin could be a game-changer in the crypto space, appealing to an entirely new audience at a time when the industry is already experiencing astronomical growth.”
Stablecoins are cryptocurrencies whose value is pegged to a non-crypto asset, like gold or the U.S. dollar. These cryptocurrencies have proved useful to investors in several ways, not least because it isn’t always easy to convert crypto assets into traditional (fiat) money on cryptocurrency exchanges. Stablecoins can offer an easy way to trade in and out of a volatile market.
Here’s what you need to know about the Djed coin.
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