#CardanoDebate

CardanoDebate 🚀 ADA Price Drops 6% as Community Clashes Over $100M Treasury Move 🚀

The ADA/USDT pair tumbled 6% to $0.6412 amid heated debate over Cardano’s proposal to convert 140M ADA ($100M) into stablecoins for DeFi liquidity. Here’s why traders are watching:

🔥 Key Controversies:

1️⃣ Sell Pressure Fears: Critics warn the move could dump supply equivalent to 10% of ADA’s daily volume onto markets.

2️⃣ Hoskinson’s Counter: The founder insists OTC/algo execution will minimize impact, calling concerns a "false narrative" .

3️⃣ Technical Fallout: ADA broke below $0.65 support, with RSI at 33.5 (oversold) – next critical level at $0.622.

💡 Pro Tip: Watch for a rebound above $0.645 – a hold could signal accumulation by bulls betting on long-term DeFi growth.$ADA