#CardanoDebate 🔥 *The Great Cardano Debate* 🧠

Cardano's native token ADA dropped more than 6% after Charles Hoskinson proposed to allocate $100M from the treasury to create stablecoin liquidity in the DeFi ecosystem. The plan is to convert approximately 140M ADA into stablecoins and Bitcoin, which has generated controversy amongst a small faction of the community.

*Key Details:*

- *How will they execute the plan?* Hoskinson is suggesting sovereign tokens be sold to aggregate private activity partly through a non-dilutive OTC/TWAP methodology to lessen market impact.

- *Concerns of the community.* Critics raised the issue of immediate selling pressure and front-running.

- *Market Impact.* ADA fell to $0.6412, where it has since retraced 58% from the lows.

*What happens next?*

The Cardano community remains divided on whether to uphold long-term DeFi growth or make the short-term price stable. Regardless of outcomes, ADA will be affected by the market sentiment of holding community members.

*Traders and opportunities:*

As always, savvy traders can take advantage of short-term volatility. Trade with key support levels ($0.6200) and resistance ($0.6500) in mind. If ADA respects these key levels, it will likely signal its next move ¹.

#CardanoDebate #ADA #DeFi #StablecoinLiquidity #CardanoGovernance