The post Kaspa Price Holds Steady, Whales Flock To Everlodge appeared on BitcoinEthereumNews.com.

SPONSORED POST* Cardano finally launches a fiat-backed stablecoin – USDM – which is bullish for DeFi apps on the chain. Kaspa remains unaffected by the recent news of the resignation of Binance’s CZ, and the alleged involvement with terrorist group Hamas. Everlodge begins stage seven of its presale after whales buy up the last of the previous stage. Cardano finally has a fiat-backed stablecoin Cardano’s development has been slow in comparison to other blockchains, and this is reflected in their TVL (Total Value Locked) which is a fraction of much younger blockchains such as Arbitrium or Solana. Cardano seems proud of this and in a recent X post, they call their strategy the “boring” approach. Stablecoins are a fundamental part of DeFi and until now, there have been no fiat-backed stablecoins on Cardano. But in recent news, Mehen is launching a 100% fiat-backed coin.  Previously, the community only had access to DJED, an algorithmic coin by COTI, and AgeUSD and SigmaUSD also algorithmic coins. Algorithmic stablecoins have had a rocky reputation as those in 2021 will remember the collapse of Iron Finance and the more challenging collapse of Terra/Luna when the algorithm was exploited. Cardano’s USDM will first be launched in the US and then expanded to cover the UK, other European countries, and the Asia-Pacific region. Cardano’s supporters though, continue to feel frustrated that the crypto-wide standard stablecoin, USDC is still not available on Cardano. Has Kaspa solved the blockchain trilemma? Kaspa has been presented as the alternative to Bitcoin, as a layer 1, decentralized blockchain. Some say it has solved the blockchain trilemma as it is fast, decentralized, and secure. And the market seems to agree as it is up by an amazing 1842% on the one yearly chart. Kaspa uses the GHOSTDAG protocol. Want to see the…

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Filed under: News - @ November 30, 2023 10:16 am