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Cardano Ecosystem

Cexplorer

07/08/2023

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The Cardano ecosystem desperately needs a USD-backed stablecoin

When I look at the Cardano ecosystem and compare it to other platforms, I have to be happy with the development. Cardano is a young platform so it needs more time to establish itself. But one thing is worrying at first glance.

The Cardano ecosystem desperately needs a USD-backed stablecoin

When I look at the Cardano ecosystem and compare it to other platforms, I have to be happy with the development. Cardano is a young platform so it needs more time to establish itself. But one thing is worrying at first glance. 

The Cardano ecosystem lacks the standard USD-backed stablecoins USDT and USDC. This may hinder growth. We desperately need a USD-backed stablecoin. 

Cardano's position among older projects? Let's take a look at the stats from Defillama first. The information may not be complete and accurate, but at least it's from one source. Note that the number of deployed applications and TVL is not the determining factor for the number of users. 

On Ethereum, you can use 838 apps and TVL is 26.3B USD. The number of active users is roughly 320K. On Cardano, according to Read article: The Cardano ecosystem desperately needs a USD-backed stablecoin

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ORIGINAL SOURCE

https://cexplorer.io/article/the-cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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