ADA Rises 2.17% as Hoskinson’s 140M ADA Proposal Sparks DeFi Optimism and Liquidity Boost

Cardano (ADA) is currently trading at $0.6453 on Binance, reflecting a 2.17% increase over the past 24 hours from a 24h open of $0.6316. The recent price uptick is primarily attributed to renewed optimism following Charles Hoskinson’s proposal to convert 140 million ADA from the treasury into stablecoins and Bitcoin, aiming to boost DeFi liquidity and network utility. This development has offset the impact of large holders selling over 270 million ADA in the past week, with technical support holding firm and traders anticipating further movement as ADA consolidates within the $0.63–$0.65 range. Market capitalization stands at approximately $24.02 billion, and liquidity remains strong, with ADA maintaining stability and moderate upward momentum despite recent selling pressure.