Rebound to $0.335 to bring $0.340 into play

Stablecoin News provides additional support

Saturday’s session was quiet, with no crypto events affecting ADA or the broader market.

The lack of events caused an echo of news of the planned launch of a USD stablecoin. On Friday, Cardano’s trading arm, Emurgo, announced the planned launch, saying:

EMRUGO, the official trading arm and founding entity of the Cardano blockchain, has announced the planned launch of a new USD-backed stablecoin, USDA. The first fully fiat-backed, rule-compliant stablecoin in the Cardano ecosystem.”

EMURGO went on to say,

“EMURGO has partnered with a US-based regulated financial services firm to hold cash deposits, ensuring that the stablecoin is fully compliant and follows regulatory guidelines.”

Although news of the stablecoin launch was positive, the project’s transition to the Cardano network remains a focus for investors. As November draws to a close, investors will be looking for an uptick in project numbers to confirm Charles Hoskinson’s assurances of flow after Fassell’s hard fork.

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