$ADA
🔻 ADA – Decline Amid Vigorous Discussions on the Future of the Financial Entity
The current price movement of ADA shows a slight weakness near $0.62 after reaching $0.64 during the day, in a volatile market environment. Here are the key updates:
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🗣️ Governance and Treasury Allocation
A proposal from Charles Hoskinson to convert about 100–140 million ADA from the treasury to BTC and Stablecoins like USDM and USDA, aimed at supporting liquidity and expanding DeFi on Cardano.
Cautiously supporting the idea with planning: Hoskinson bets on partial distribution via OTC and TWAP to prevent any market shock, and rejects the notion that execution could lead to excessive selling pressure.
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📉 Technical Reactions and Markets
A sharp drop of nearly 6% after rejection at $0.68, down to $0.62 before a slight reversal towards $0.64, with clear support at $0.622 and resistance at $0.645.
Some analyses warn: as $0.62 continues to break, ADA may slide towards $0.58–$0.60, while breaking $0.65 could push the price towards $0.68–$0.70.