The launch of the USDM stablecoin in the United States is expected to enhance growth of Cardano's DeFi sector. Active wallets on the network exceed the 600,000 mark for the first time since late 2022 in anticipation of the rollout. Increased network activity suggests a correlation with price action as ADA briefly broke the $0.80 resistance before experiencing a correction. Cardano broke the $0.
It would serve as a reliable trading pair to projects within Cardano, attracting more users and increasing liquidity in the process. This could also act as a signal for DeFi protocols that have been skeptical about launching on the blockchain platform. Active wallets hit a major milestone A few months back, in September 2023 precisely, active wallets on Cardano were at a low of around 300,000.
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