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Launched on the Cardano [ADA] mainnet on 31 January, the networks native over-collateralized stablecoin Djed [DJED] is set to expand to multiple blockchain networks.

How much are1,10,100 ADAs worth today?

In a blog post published by Coti on 11 May, the developers behind DJED said, while the stablecoin will remain unchanged when it is implemented on other blockchains, it will exist as a wrapped token on these networks.

The developers added that a centralized bridging solution is necessary to provide a safe platform and decided to partner with Chainport.

According to Coti:

DJED will likely be integrated into Binance Smart Chain and Ethereum first, with other blockchains to be added at a later date.

DJED announced its multichain expansion plans two weeks after the over-collateralized stablecoin launched on Milkomeda-C1, an EVM-compatible sidechain of the Cardano network.

Since its launch, DJED has amassed a total of 36 million ADA tokens locked in its over-collateralized reserve. According to data from DefiLlama, at press time, the coins total value locked (TVL) was $15.08 million.

Also, despite the momentary de-pegging of leading stablecoins USDC, USDT and DAI when Silicon Valley Bank (SVB) unexpectedly collapsed in March, DJED maintained its peg.

At the time of writing, Cardanos TVL stood at $139.36 million. DJED ranked as the fourth-highest contributor despite being released barely four months ago.

At press time, the coin traded hands at $0.3603. As the rest of the market trades north, ADAs Open Interest has fallen into decline since 16 April.

According to data from Coinglass, the alts Open Interest has since dropped by 33%.

When an assets Open Interest dips, the market for the asset becomes more illiquid. It will also be marked by a fall in the number of available buyers and sellers. It is often followed by a drop in such an assets value.

ReadCardanos [ADA] Price Prediction2023-24

Assessed on a daily chart, ADA appeared oversold at press time. However, its price rested on the lower band of its Bollinger Band indicator.

This meant that a price rebound was likely while the coin traded below its average trading range and was oversold. The bullish divergence created between the ADAs Chaikin Money Flow (CMF) and its price lent basis for this position.

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Cardano [ADA]: DJED spreads its wings, prepares for multi-chain takeoff - AMBCrypto News

Tether's excess reserves of $2.44 billion reached an all-time high, with the majority of its investments held in cash and short-term deposits.

Stablecoin issuer, Tether, reported a profit of $1.5 billion during the first quarter of 2023, more than double during the last quarter.

According to the latest attestation report, Tether's consolidated total assets amounted to at least $81.8 billion, while its consolidated total liabilities amounted to $79.4 billion, indicating excess reserves of at least $2.44 billion an all-time high.

For the first time, Tether also included additional categories in its reserves reporting, including bitcoin, physical gold, overnight repo, and corporate bond allocations. It holds $1.5 billion worth of bitcoin and $3.3 billion worth of precious metals. The majority of its investments, around 85%, are held in cash, cash equivalents, and other short-term deposits, with gold and bitcoin representing around 4% and 2% of the total reserves, respectively.

This news comes after a turbulent period for the stablecoin market, during which several tokens lost their dollar pegs. However, Tether's dollar-pegged USDT has increased its market capitalization by $16 billion since the start of the year, representing 24% growth.

Tether has been criticized in the crypto industry for years for lack of transparency about its reserve assets and controversial maneuvers. Last year, a U.S. judge ordered the firm to produce documents about USDT's backing as part of a lawsuit that alleged Tether conspired to inflate BTC's price with newly issued stablecoins.

Despite the criticism, Tether's latest attestation report indicates that the firm is continuing to grow and diversify its reserves. It has also promised to completely exit from secured loans this year.

Tether is the most widely adopted coin in circulation. USDT was the first-ever stablecoin introduced to the market. It is designed to peg its issued coin 1-to-1 with the Dollar. Tether was one of the first stablecoins issued in several blockchains, available on the Tron, ETH, Omni, EOS, Algorand, Solana, and the Binance Smart Chain (BSC) networks. It has received mass adoption as the reserve currency for most traders as it doesnt fluctuate like typical crypto coins.

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Tether Earns a Staggering $1.5 Billion in Q1, Doubling Its Previous ... - BSC NEWS

Cryptocurrencies have gained popularity over the years due to their decentralized nature and potential to provide financial freedom. In this article, we shine the light on three different coins: Binance Coin (BNB), Solana (SOL), and Dogemiyagi (MIYAGI), three coins with unique characteristics that contribute to the overall development of the crypto space.

Binance Coin is the native token of one of the biggest cryptocurrency exchanges in the world, Binance. The coin is used to pay for trading fees, exchange fees, and other fees on the Binance exchange.

BNB has seen a significant increase in popularity due to the rise of decentralized finance (DeFi) applications, which have been built on the Binance Smart Chain.

Binance Coin was launched in 2017 by the Binance exchange, which was founded by Changpeng Zhao (CZ) to serve as a utility token for paying trading fees on the Binance exchange. However, as the Binance exchange grew in popularity, Binance Coin also gained popularity, and its use expanded beyond just the Binance exchange.

In 2021, Binance Coin experienced a significant surge in value, reaching an all-time high of over $690 USD in May. This was in part due to the growth of the Binance Smart Chain, which is a blockchain that lets developers build decentralized applications on top of the Binance network.

Solana is a high-performance blockchain designed for decentralized applications (dApps) and smart contracts. The Solana blockchain can handle up to 65,000 transactions per second, making it one of the fastest blockchain networks in the world. Solana has gained popularity due to its ability to support high-speed transactions, low fees, and support for DeFi applications.

Solana was founded in 2017 to be a fast, high-performance blockchain that can support decentralized applications and smart contracts. In March 2021, Solana announced a partnership with USDC, a stablecoin that is pegged to the US dollar.

This partnership allows developers to build decentralized applications on the Solana network that use USDC as a stablecoin. Since then, Solana has gained popularity among developers looking to build DeFi applications due to its speed and low transaction fees.

As of April 2023, SOL is trading at around $21 USD.

In the world of cryptocurrency, losses can be devastating, and many have given up hope during the so-called crypto winters. However, Mr Dogemiyagi, with his latest MIYAGI tokens, has proven that resilience is key to surviving and thriving in this volatile market.

With MIYAGI tokens as the central principle, Dogemiyagi has created a community that shares the epicenter values of Mr Dogemiyagi himself: supporting each other, exchanging NFTs, discussing cryptocurrency, and creating hilarious memes. The Dogemiyagi token serves as a peer-to-peer cryptocurrency that can be used to execute cross-border payments, buy NFTs, govern the network, and more.

What sets Dogemiyagi apart is its underlying blockchain engineering: 100% community-driven, decentralized, and secure, with ownership renounced after the token launch and systematic evolution into a fully-fledged Decentralized Autonomous Organization (DAO).

Dogemiyagi has chosen the Ethereum blockchain to build this initiative because of its popularity, eco-friendliness, and extensive capabilities.

The cryptocurrency market continues to evolve, with new coins and tokens being introduced regularly. Binance Coins popularity has surged due to the rise of DeFi applications on the Binance Smart Chain, while Solanas ability to handle high-speed transactions and low fees has made it popular among developers.

Dogemiyagis focus on resilience and community-building stands as a testament to the power of the human spirit in crypto space.

As the crypto market continues to grow, its exciting to see what new developments will arise and how they can shape the future of finance.

Website: https://dogemiyagi.com

Twitter: https://twitter.com/_DogeMiyagi_

Telegram: https://t.me/dogemiyagi

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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The Three Coins To Rule Them All: Binance (BNB), Solana (SOL), And Dogemiyagi (MIYAGI) | Bitcoinist.com - Bitcoinist

As the cryptocurrency market continues to evolve, new and innovative coins emerge with their unique features and selling points. Two popular cryptocurrencies that have gained significant attention recently are Doge Rush and Dogetti. These two coins operate in a similar way to other meme coins, such as Dogecoin and Shiba Inu, which have experienced incredible surges in value in recent months. In this article, we will compare and analyze the similarities and differences between Doge Rush and Dogetti, focusing on their purpose, features, and potential impact on the market.

Dogecoin is a popular cryptocurrency that was created in 2013 based on a meme of a Shiba Inu dog. It was initially created as a joke but quickly gained a following due to its low price and community-driven approach. Dogecoin has since become a legitimate cryptocurrency that is used for online transactions and has seen a surge in popularity in recent years. Its ease of use and accessibility make it a popular choice for beginners in the world of cryptocurrency. Despite its humble beginnings, Dogecoin has gained a significant following and has even been endorsed by public figures such as Elon Musk.

Dogetti (DETI) is an exciting new meme coin that follows the trend of Dogecoin and Shiba Inu by featuring charming mafia-themed Shiba Inu dogs as its mascots. The presale for Dogetti has reached almost a third of its target, indicating that its official release is not far away. Dogetti is focused on building a strong community by introducing features that encourage participation in transactions on the platform. These features include Dogetti's exclusive NFT collection and DAO, as well as percentage distributions that are taken after each transaction. These percentages can either be donated to a charity wallet, redistributed to holders within the community, or sent to liquidity and burn wallets to maintain the token's long-term stability. The NFT collection provides a way for community members to feel part of the Dogetti family by allowing them to adopt a Dogetti puppy as their own adorable digital pet.

Doge Rush is a crypto presale that aims to reward early adopters and investors with a high potential for value growth. The coin is built on the Binance Smart Chain network and has a limited supply of 10 billion tokens, ensuring scarcity and potential value growth. Doge Rush also employs an automatic liquidity pool that contributes to the price stability of the coin.

Doge Rush was created with the aim of capitalizing on the popularity of meme coins and providing a viable alternative to other cryptocurrencies such as Bitcoin and Ethereum. The coin has gained significant traction in the crypto community, with a rapidly growing user base and an active social media presence.

It can get confusing to choose from all these meme coins, and thats why its important for investors to find a coin that aligns with their goals and what they would like to get out of their investment in crypto. If you like belonging to a close-knit community and owning fun, cute NFTs, then Dogetti is the coin for you. Its focus on creating generational wealth for its investors and its charitable leanings make belonging to the Dogetti community an internally rewarding experience, and its growing popularity can herald its imminent rise.

Join the Dogetti mafia crew and start earning big here:

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_

Disclaimer:The views expressed on this page are those of the author and not of The Portugal News.

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Dogetti V.S Doge Rush: Who Is The Next Dogecoin? - The Portugal News

There is a new scam aimed at crypto exchanges, where scammers create Shiba Inu (SHIB) on other networks and pose it as an official version.

With its strong community and utility, the Shiba Inu (SHIB) token has continuously made waves in the crypto world. Sadly, some people are capitalizing on its sensationalism to pull underhand tricks.

A prominent figure of the Shiba Inu community and Shibarium Telegram Group Admin has recently taken to social media to forewarn crypto portfolio asset managers about a scam rising in popularity targeted at them and their users.

In a tweet on Thursday, well-known SHIB member Ragnar Shib warned about a new crypto scam targeting crypto exchanges. According to Ragnar, some bad actors created a version of Shiba Inu on the Fantom (FTM) blockchain, presenting it as an official rendition.

However, Ragnar declared that Shiba Inu and its ecosystems tokens, including SHIB, Bone, and Leash, are all based on the ERC20 network, the Ethereum blockchain, and no other. Consequently, Ragnar urged crypto exchange listing managers to be aware of the scam and to take appropriate measures to protect themselves and their users.

Although Ragnar pointed out that a Discord community claimed the SHIB token exists on the Binance Smart Chain (BSC) network, he reiterated that SHIB is only on the Ethereum blockchain, and every other chain claiming otherwise was a scam.

Notably, the fraudulent scheme is a classic example of a phishing scam common in the crypto space. Phishing involves sending messages that appear to be from a legitimate source but are designed to trick users into giving away their private keys or other sensitive information.

Recently, a scammer posing as Shytoshi Kusama, one of the lead developers of Shiba Inu, scammed community members by creating a fake Twitter account with a very similar handle to the official one.The scammer urged unsuspecting victims to register their wallets for private access to the beta launch of Shibarium and claimed that only those with SHIB, BONE, and LEASH would gain priority access. The tweet included a link to a fake Shibarium Beta Launch Registration Link, and those who connected their wallets through it lost all their virtual assets.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Shiba Inu Admin Warns of Fake SHIB Tokens on Other Chains - The Crypto Basic