**The lower fees is what is going to attract many to Cardano DeFi away from Ethereum's dominance in this field. DJED will be a very big player within the stablecoins.
Another stablecoin will be joining the Crypto family this month with the launching of DJED for the Cardano blockchain. Yesterday the much anticipated Vasil Hardfork was announced for the 22nd September. This Vasil hardfork has been delayed since the end of June so it is 3 months overdue.
Cardano is a big player in Crypto and believe it will become even more so as their DeFi eco system roles out. How many billions of DJED will we see as the numbers will have to be big and should see DJED challenge the top 3. Binance USD or BUSD is 3rd with a market cap of $19,561,786,387. Can DJED take their spot over the coming months? I hope so as this will increase my APR earned through fees on the COTI treasury for servicing DJED.
With over 40 Dapps that have already partnered with DJED the adoption of DJED will be instant. With 3 weeks still to go and others signing up weekly we should see this number climb rapidly and expect that number to be well over 100 before the year end. This is big news as we haven't seen anything this large happen in Crypto as Cardano are a big player having been stagnant for years. Many expect Cardano DeFi to attack Ethereum's dominance in this field which should make Crypto stronger with many more offerings and partnerships.
Stablecoins have seen their roles change from when they were first introduced as they were seen as a safe haven when the Bears came to town. The idea was to be able to sell off your portfolio after making gains in the Bull market into stablecoins protecting your monetary value. When the dust had settled you could then purchase back your portfolio taking advantage of the cheaper prices increasing the number of tokens you originally had.
The latest trend is for citizens in countries like Argentina who have seen their Peso lose it's value due to inflation purchase up stablecoins as protection against their own currency. Last week they had 3 x the volume as many rushed to protect their wealth before any announcements of devaluation to the Peso. We saw something similar with the Turkish Lira last year but that was swapping their currency for Bitcoin which is not advisable right now as Bitcoin may be heading for a lower low.
We have seen our very own stablecoin HBD offer a 20% APR which is the equivalent of making 20% on a USD which is unheard of in the real world. Being able to park your wealth and earn a return in double digits is what Crypto is offering whilst everything is dropping in value.