#CardanoDebate
ADA falls 6% as the Cardano community debates a $100 million liquidity proposal in stablecoins.
The ADA token of Cardano dropped more than 6% while Charles Hoskinson defended a proposal to deploy 140 million ADA from the treasury to boost stablecoin liquidity.
What you need to know:
ADA fell 6.01% to $0.6412 after rejecting levels above $0.68 and testing lows near $0.625, according to CoinDesk Research's technical analysis model.
The Cardano community is divided regarding the proposed allocation of $100M to support stablecoin liquidity.
IOG CEO Charles Hoskinson argued that the sale could be conducted gradually using over-the-counter operations and algorithmic execution tools, minimizing the market impact.
A popular Cardano influencer expressed concern over front-running and selling pressure on ADA.
Volume increased near $0.622 before the price rebounded to $0.64 but faced resistance.
The ADA token of Cardano decreased 6.01% to $0.6412 as the market reacted to both macro volatility and a heated governance debate over a $100 million treasury allocation proposal aimed at strengthening the DeFi ecosystem.
On Wednesday, the TapTools team asked their followers on X what they think about the idea of deploying 140 million ADA (around $100 million) to provide liquidity to stablecoins like USDM and help boost Cardano's growing decentralized finance sector.
