Bulls target $0.418 before the Fed on JD launch

US statistics and the launch of the grandfather of stablecoin provided support

On Tuesday, Input Output HK (IOHK) shared the news of the launch of the algorithmic stablecoin Djed, COTI. IOHK announced the launch on Twitter, likeAnd

“Congratulations to the COTI Network team on the launch of DJED today and another huge step forward in the continued development of the Cardano DeFi ecosystem.”

As of this morning, the reserve ratio is 597%, according to JED, which is within the margin commitment of 400% to 800%.

Investors are now awaiting the launch of the EMURGO stablecoin USDA. On Tuesday, the Cardano Spot shared the latest news, likeAnd

The USDA will act as a bridge between DeFi and RealFi, providing external value to the Cardano ecosystem compared to the crypto-backed stables. Alpha: Will bring dozens of real assets on Cardano such as gold or other commodities. White paper coming in a few weeks! “

Although the network updates were positive, the US economic indicators and the Nasdaq Index support a return to $0.400.

Today, network updates will continue to provide routing. However, the Fed may test appetite for riskier assets late in the session. With markets betting on a 25 basis point rate hike, Fed Chair Powell’s hawkish press conference could spook investors.

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