Cardano’s Reserve Plan Fuels 44% Surge in Minswap (MIN), 39% in Indigo Protocol (INDY)

Cardano, one of the leading layer-1 blockchains, is experiencing a bullish trend in its ecosystem.  This follows an announcement by U.S. President Donald Trump to include the asset in the country’s strategic cryptocurrency reserves. 

In addition to its native coin ADA, which surged by an impressive 47.5% in the past hours, the value of the top decentralized exchanges operating on the blockchain is also seeing a remarkable increase. 

Top Cardano DEXs React to Reserve Announcement 

Minswap, a decentralized exchange (DEX) on Cardanothat enables permissionless trading of token pairs, has seen its price surge by over 44% in the past 24 hours. According to data from Coingecko, the asset is currently exchanging hands at $0.03788 with a trading volume of $793,546. This value represents a 614.50% increase from one day ago. 

Minswap market cap stands at over $52 million with a fully diluted valuation of more than $113 million. The token is currently tradable across several platforms, such as MEXC and CoinEx, with its most active trading pair being MIN/USDT. 

Similarly, Indigo Protocol, an autonomous synthetics protocol for on-chain price exposure to real-world assets, also saw a remarkable price uptick. At press time, the token trades at $1.64 representing an impressive 43.5% increase in the last 24 hours. 

A further look at recent data shows a notable surge in trading volume for Indigo Protocol, now at $136,767, indicating a 427.60% increase, thus highlighting growing interest and market activity. With a market cap of over $27 million and a fully diluted valuation exceeding $57 million, INDY can be traded on centralized crypto exchanges and decentralized exchanges.

Interestingly, Minswap and Indigo Protocol are not the only projects whose token prices surged from the Cardano strategic reserve plan. Another project that was positively affected is Iagon, a decentralized cloud storage platform. The platform allows users to store data on a distributed network while maintaining privacy and security. 

Iagon primarily operates on the Cardano blockchain and has seen its native token IAG surge by 42.3% in the last 24 hours, currently trading at $0.3441. The move to include Cardano in the strategic reserve signals unprecedented legitimacy and attention for Cardano and the various projects operating on the blockchain. This is likely to drive adoption and liquidity to new heights. 

What is Minswap?

Launched in March 2022, Minswap allows users to trade tokens with minimal cost and time. The platform offers features such as liquidity provision, yield farming, and governance participation.

Minswap stands out as a community-centric DEX, with tokens fairly distributed without involvement from private or venture capital (VC) investors. The platform aims to continuously drive innovation within the Cardano ecosystem. It introduces innovative ideas like the Fair Initial Stake Offering (FISO) model, the MINt token, and the Liquidity Bootstrapping Event.

About Indigo Protocol

Indigo Protocol is a DEX that allows users to create and trade synthetic assets. These are essentially digital representations of real-world assets like US dollars, Bitcoin, or Ethereum. Hence, enabling diverse trading opportunities within the Cardano ecosystem. These synthetic assets are called “iAssets” and the native stablecoin on Indigo is called “iUSD”.

The native token of Indigo Protocol, INDY is primarily used for voting on governance proposals within the decentralized autonomous organization (DAO). The project also offers features like Liquid Staking, which allows users to collateralize assets while earning ADA rewards from the Cardano network.

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