$ADA

Cardano founder Charles Hoskinson proposed converting 140 million ADA (approximately 100 million USD) into stablecoins and Bitcoin to enhance DeFi liquidity and ecosystem development. He emphasized that the Cardano stablecoin market size is only 31.5 million USD, far behind Ethereum and Solana. This move aims to address the stablecoin shortage issue and generate non-inflationary income, but there is significant division within the community. Some support the long-term DeFi potential, while others are concerned about short-term market pressure or a decline in ADA prices. Hoskinson suggested mitigating the impact through over-the-counter trading and algorithmic execution, and plans to discuss further at the Rare Evo event. Cardano's privacy stablecoin plan is also garnering attention, potentially achieving transaction privacy through the Midnight sidechain.