#CardanoDebate 🚀 ADA Price Drops 6% as Community Clashes Over $100M Treasury Move 🚀

The ADA/USDT pair tumbled 6% to $0.6412 amid heated debate over Cardano’s proposal to convert 140M ADA ($100M) into stablecoins for DeFi liquidity. Here’s why traders are watching:

🔥 Key Controversies:

1️⃣ Sell Pressure Fears: Critics warn the move could dump supply equivalent to 10% of ADA’s daily volume onto markets.

2️⃣ Hoskinson’s Counter: The founder insists OTC/algo execution will minimize impact, calling concerns a "false narrative" .

3️⃣ Technical Fallout: ADA broke below $0.65 support, with RSI at 33.5 (oversold) – next critical level at $0.622.

💡 Pro Tip: Watch for a rebound above $0.645 – a hold could signal accumulation by bulls betting on long-term DeFi growth.

⚠️ Volatility Alert: Volume spiked to $1B+ during the sell-off – expect whipsaws.

Did You Know? Cardano’s stablecoin TVL is just $31M – this move aims to 10x it.

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