- WingRiderDEX hinted about something coming up but never disclosed the details.
- Djed and WingRidersDEX partnership was announced in 2022.
- DJED would be overcollateralized stablecoin built to power the Cardano ecosystem.
Any new announcement in the crypto world is often taken with a pinch of salt. WingRiderDEX has hinted in a Twitter post of something big coming up soon.
They just hinted at something coming but never clarified, leaving users guessing what it might be about:
“Something BIG is coming to WingRidersDEX. Something you have been waiting for quite some time. WingRiders and COTI network announcement soon.”
Such an announcement from a major crypto entity has left users scratching their heads into guessing what it could be, with some saying that this could be the launch of a new stablecoin Djed.
A user with the recent announcements believes that DJED could be around the corner.
In August 2022, a partnership between Djed and WingRidersDEX was announced by COTI to explore the possibilities of Djed stablecoin integration into WingRiders DEX. This was the major reason for the assumptions after the Twitter announcement.
What is DJED?
It is the overcollateralized stablecoin especially built to power the Cardano ecosystem. It was initially announced in 2021, and since then, COTI has diligently worked with the Cardano IOG team on Djed’s development. There are more than 40 partnerships in place for Djed’s proper utilization.
A Twitter post hints towards the overcollateralized stablecoin launch in January.
According to the announcement from the COTI network, their goal for 2023 is to push DJED into becoming a dominant stablecoin on the Cardano network. Saying that technical improvements will keep rolling out, including full Vasil support and staking through the smart contract.
COTI
At the time of writing, COTI was currently trending at $0.08938 with a rise of 11.67%, and its value against Bitcoin rose by 12.41% at 0.000003936 BTC. The market cap jumped by 11.80% and was at $99 million; at the same time, there was a massive jump of 118.75% in its volume at $25 million. It shares a market dominance of 0.01% while being ranked at 247.
The currency rate was 86.93%, down from its all-time high of $0.6826 on October 31, 2021. At the same time, it was up by 1332.45% from its all-time low of $0.006226 hit on November 9, 2019.
Cardano ADA
This announcement has benefitted the coin; at the time of writing, it was trading at $0.3719 with a jump of 1.09%, and its value against Bitcoin saw a rise of 1.68% and was at 0.00001636 BTC. At the same time, Market Cap rose by 1.09% and was at $12.8 billion, with its volume rising by 17.05% and at $689 Million in the last 24 hours. Sharing a market dominance of 1.23% and ranked at 8.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
