$ADA Cardano (ADA) as a company dedicated to blockchain technology, is facing the issue of insufficient liquidity for stablecoins. Despite good on-chain metrics, the recent volatility in ADA prices has raised concerns among investors.

2. Djed Stablecoin

Djed is the highly anticipated algorithmic stablecoin on Cardano, designed to maintain its value close to 1 dollar through an algorithmic mechanism. It will hold a reserve of underlying currencies and curb volatility by mining and destroying other stable assets. Djed has two versions: one used as a medium of exchange and the other using dynamic fees to respond more quickly to external events. $ADA