$ADA Cardano (ADA) as a company committed to blockchain technology is facing the issue of insufficient liquidity in stablecoins. Despite good on-chain metrics, the recent fluctuations in ADA's price have 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 algorithmic mechanisms. 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 faster to external events.