#CardanoDebate ADA declines amid the proposal to convert 100 million dollars from the Cardano treasury into The founder of Cardano, Charles Hoskinson, suggested converting 100 million dollars in ADA into stablecoins and Bitcoin. The capital reassignment strategy aims to boost Cardano's DeFi ecosystem. ADA has decreased by more than 4% in the last 24 hours and is now seeking support at 0.60$ after experiencing a rejection at the upper limit of a descending channel. Cardano (ADA) fell 4% on Friday as Cardano's founder, Charles Hoskinson, proposed converting 100 million dollars in ADA into stablecoins and Bitcoin (BTC) to boost the issuance of Stablecoin in its ecosystem. ADA falls 4% amid the proposal for the allocation of the Cardano treasury. Cardano co-founder Charles Hoskinson has suggested converting 100 million dollars in ADA tokens into Bitcoin and stablecoins. In a YouTube video on Friday, Hoskinson discussed the low issuance of stablecoins in Cardano's DeFi ecosystem. Cardano has a disproportionately low ratio of stablecoin issuance compared to our DeFi. It's a little below 10%," said Hoskinson in the YouTube video recording. There are approximately 31 million dollars in stablecoins on the Cardano network, compared to 273 million dollars in its total value locked (TVL), according to data from DefiLlama. Hoskinson also shared that the Cardano Foundation's treasury does not hold any yield-generating instruments.