#CardanoDebate

#CardanoDebate ADA drops by 6% while the Cardano community debates a $100 million liquidity proposal in stablecoin.

What it:

ADA fell by 6.01% to reach $0.6412 after being rejected above $0.68 and testing lows near $0.625, according to CoinDesk Research's technical analysis model.

The Cardano community is divided regarding the proposal for a $100 million allocation to support stablecoin liquidity.

IOG CEO Charles Hoskinson argued that the sale could be carried out gradually using over-the-counter transactions and algorithmic execution tools, thereby minimizing the impact on the market.

A popular Cardano influencer expressed concern about frontrunning and selling pressure on ADA.

Volume surged near $0.622 before the price bounced back to $0.64 but encountered resistance.