Mountain Protocol has announced the launch of the first native yield-bearing stablecoin (USDM) on the Injective blockchain. This development, disclosed in a blog post by the Injective team on Wednesday, marks a significant milestone for the Injective ecosystem.

Despite this advancement, the broader market sentiment remains pessimistic. Regulatory uncertainties and market volatility continue to cast a shadow over the blockchain industry. The introduction of USDM may provide some stability, but it is unlikely to offset the prevailing negative trends affecting the sector.

Investors and stakeholders should remain cautious as the market navigates these turbulent times.