Crypto news: ADA, SUI and Ecoterra

In this article, we delve into the latest news and price movements related to the Cardano (ADA), Sui and Ecoterra crypto assets, shedding light on the factors driving their trajectories and the potential opportunities they present.

Prices and market statistics of the Cardano (ADA) Sui (SUI) and Ecoterra crypto assets

Out of the three projects, Cardano (ADA) is undoubtedly the most important for the market. Despite having just launched its own stablecoin (Djed), the token seems to be coming from a month that is not the most positive. 

In fact, the ADA token has lost 15% of its value in the past 30 days, bringing its price down to $0.37. 

In terms of market capitalization, Cardano presents as much as $12.8 billion, with daily trading volume at $122.5 million. 

The circulating supply of the token is 34.9 billion ADA, with an average holding time of 203 days. 

Meanwhile, the SUI token, which was born on May 3, 2023, soon after its launch its price stabilized around $1.15, dropping nearly 75%. 

In recent days it has had slight increases of 4%, then reestablished itself at the same price. 

As for market statistics, the market capitalization is $605.8 million, with a trading volume in the last 24 hours of $246.7 million. 

The circulating supply of the token is 528.3 million SUI. The token will still have to struggle to reach and exceed its high of $1.50. 

On the other hand, the case of the EcoTerra eco-token is different; indeed, the token is still on pre-sale and has not been launched. The listing price is $0.01, while at the moment and for the next 5 days, the pre-sale price will be 0.0075, then it will go to 0.0085 until launch. 

Ecoterra’s Whitepaper, gives us data regarding the supply of available tokens, which will be 2 billion. 

Cardano’s Stablecoin has a new name: Djed 

Cardano, the blockchain platform known for its innovative approach to decentralized finance (DeFi), is making waves again. This time with the launch of the long-awaited overcollateralized stablecoin. Although the project has been in the works for some time, the team recently revealed the stablecoin’s official name: Djed.

Djed, which will be referred to as DJED, aims to offer stability and security in a rapidly evolving cryptocurrency market. It is pegged to the US dollar, meaning that each Djed token will retain a value equivalent to one US dollar. This pegging mechanism is designed to ensure that users can transact and store value without the volatility typically associated with cryptocurrencies.

To support Djed, Cardano leverages its native cryptocurrency, ADA. By using ADA as collateral, the stablecoin achieves a high level of security and reliability. ADA, being Cardano’s native blockchain asset, enjoys a strong and established position within the ecosystem. This integration further strengthens Djed’s stability and reliability.

However, it is worth noting that Cardano wants to avoid confusion with algorithmic stable coins such as DAI or Terra. Therefore, the project consciously chose to refer to Djed as an “overcollateralized stablecoin” rather than an algo stablecoin. This distinction emphasizes the conservative approach of the Djed project, in which stability is achieved through a collateralization ratio that exceeds the value of the tokens issued.

The key to the Djed ecosystem is the Shen token (SHEN), which serves as the reserve currency for Djed. The Shen token plays a crucial role in maintaining the stability and value of Djed by serving as a reserve asset backing each token issued. This reserve mechanism helps ensure that Djed remains fully supported by assets of equivalent value, thus maintaining its peg to the US dollar.

With the launch of Djed on the Cardano mainnet scheduled for 31 January, Cardano’s developers are paving the way for a new era of stability and reliability within the Cardano ecosystem. The over-collateralization model, combined with ADA support and the reserve mechanism facilitated by Shen, creates a robust infrastructure that aims to withstand market volatility and provide users with a reliable stablecoin solution.

As Cardano continues to advance with its innovative approach to DeFi, Djed is poised to become a significant player in the stablecoin market. Its integration within the Cardano ecosystem, along with its solid foundation and emphasis on stability, positions Djed as a potential game-changer in the broader cryptocurrency landscape.

Sui Network launches Mainnet and unveils Token Bridge for seamless cross-chain transfers

Sui Network, the Layer-1 blockchain protocol that has attracted considerable interest in the crypto community, has officially launched its mainnet. This long-awaited milestone marks a major step forward for the project, allowing users to fully engage in the Sui Network blockchain ecosystem.

With the launch of the mainnet, Sui Network introduces a number of exciting features and functionality. Users can now leverage the network’s robust infrastructure, enabling them to participate in various activities, including smart contract development, decentralized applications (dApps) and secure digital asset management.

One of the key features accompanying the launch of the mainnet is the Sui network token bridge. This secure token bridge facilitates seamless asset transfers between different blockchain networks. By enabling compatibility between chains, Sui Network allows users to overcome the limitations and barriers that often exist between separate blockchain ecosystems.

The token bridge is designed to ensure secure and efficient transfer of digital assets by providing users with unrestricted access to move their tokens between supported chains. This opens up a world of possibilities for users, allowing them to leverage the strengths and opportunities available across multiple blockchain networks.

The Sui Network token bridge is an essential component in promoting interoperability and expanding the reach of decentralized finance (DeFi) applications. With this capability, users can take advantage of various DeFi protocols, access liquidity from different decentralized exchanges (DEX), and engage in cross-chain lending and mortgages.

The launch of the mainnet and the availability of the token bridge underscore Sui Network’s commitment to creating a seamless and user-friendly blockchain ecosystem. By removing barriers and enabling frictionless cross-chain transactions, Sui Network aims to improve user experience and promote widespread adoption of blockchain technology.

In addition, the Sui Network team prioritized security and scalability throughout the development process. The launch of the mainnet is the culmination of extensive testing and optimization to ensure that users can trust the network’s robust infrastructure and rely on its efficient transaction processing capabilities.

Looking ahead, Sui Network has ambitious plans to further expand its ecosystem and attract a diverse range of developers, users and projects. The launch of the mainnet and token bridge lays a solid foundation for future growth and paves the way for the integration of new features and functionality.