ADA Slides 4.2% After 140 Million ADA Treasury Proposal Sparks Debate and Hits 56-Day Low

Cardano (ADA) declined by 4.20% over the past 24 hours, opening at 0.6383 and currently trading at 0.6115 on Binance. The price drop is primarily attributed to broad bearish sentiment and a recent proposal by Cardano founder Charles Hoskinson to reallocate 140 million ADA from the treasury to purchase Bitcoin and Cardano-based stablecoins, which has sparked debate around governance and ecosystem strategy. Additional downward pressure followed ADA’s fall to a 56-day low, though technical indicators suggest weakening bearish momentum and potential stabilization near key support levels at 0.61–0.63. Trading activity remains elevated amid heightened volatility, with analysts watching for a possible short-term reversal if critical support holds.