Cardano stablecoin Djed TVL hits $10M in 24 hours, ADA up 4% T | CryptoExplorer ✪

Cardano stablecoin Djed TVL hits $10M in 24 hours, ADA up 4%
The total value of assets locked (TVL) on Cardano-based overcollateralized stablecoin Djed crossed $10 million during the first 24 hours of its launch, according to DeFillama data. Available data on Djed’s website shows that the stablecoin has a circulating supply of 1.7 million, while its reserve token, SHEN’s supply, is at 20.8 million. Coti CEO Shahaf Bar-Geffen tweeted that Djed’s reserve ratio peaked at 800% some hours after its launch — the percentage has dropped to 596% as of press time. Read more