⭐⭐Cardano Founder Charles Hoskinson Proposes $100 Million Bitcoin (BTC) and ADA Swap! Will ADA Price Drop? ⭐⭐

Charles Hoskinson, the founder of Cardano (ADA), has come to the forefront with an important proposal that has caught the attention of the markets. Hoskinson announced his plan for the use of a $100 million ADA reserve.

According to Coindesk, Hoskinson proposed converting this amount of ADA into Bitcoin (BTC) and the native stablecoins USDM and USDA in the Cardano ecosystem to strengthen the DeFi and stablecoin ecosystem.

Hoskinson stated, "We can take the $100 million ADA in the treasury and convert it into stable cryptocurrencies like USDM and USDA on Cardano. Additionally, we can convert a portion into Bitcoin to create a Prime Bitcoin DeFi structure."

He mentioned that this move aims to increase the share of stablecoins in total locked assets (TVL) from 10% to 30-40%. He expressed that the current 10% stablecoin-TVL ratio is a significant barrier for Cardano.

According to DefiLlama data, Cardano's total TVL stands at $356 million, while the total value of minted stablecoins is only around $31 million.

In comparison, Solana's TVL is recorded at $9.8 billion, and the amount of stablecoins on-chain is 11 billion dollars.

Hoskinson's proposal for a $100 million ADA sale has faced criticism due to its potential effects on the ADA price. However, Hoskinson stated that concerns about the price are unfounded.

Accusing his critics of being inexperienced, Hoskinson expressed that such a sale would not create any negative consequences in the Cardano ecosystem.

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