Cardano Stablecoin DJED Now Featured on CoinMarketCap and Coingecko

DJED and SHEN are now listed on CoinMarketCap and Coingecko

COTI Network has announced that Cardano stablecoin DJED and its reserve token DJED are now featured on two prominent cryptocurrency aggregators, Coingecko and CoinMarketCap. COTI revealed the development in a tweet today, saying:

$DJED and $SHEN are now featured on @coingecko and @CoinMarketCap!

Check it out:

CoinGecko – https://t.co/ctXTwJxitohttps://t.co/OG9RqYsVDi

CMC – https://t.co/RqZBXrn1VWhttps://t.co/3gFcZDSg0H$COTI pic.twitter.com/dUOfzpiZ2k

— COTI (@COTInetwork) February 2, 2023

With DJED and SHEN now featured on the two leading cryptocurrency aggregate platforms, users can easily track the price movements of the assets. Users can access the price charts of DJED and SHEN by clicking the links shared by COTI, or they can easily search the assets’ names or symbols directly on the platforms.

It bears mentioning that the development comes less than three days after DJED and SHEN launched on the mainnet. The stablecoin and its reserve token went live on the mainnet following a year of preparation, development, and security audits.

For context, DJED is an over-collateralized stablecoin pegged to the U.S. dollar (USD) and backed by Cardano’s native token ADA. According to COTI, the stablecoin will maintain its dollar peg through a mint and burn mechanism of SHEN. COTI noted that DJED would maintain a 400% – 800% collateral ratio, with a solid proof of reserve set up to shield the stablecoin from unfortunate events in the crypto market.

DJED Trading Below Its Dollar Peg

However, DJED has lost its dollar peg a few days after its launch. At press time, DJED is changing hands around $0.98 on both Coingecko and CMC. The stablecoin is down 5.8% in the past 24 hours. Meanwhile, its reserve token is trading at $0.46 and has plunged 4% in the past day.

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