🚨Cardano is facing renewed volatility as whales #dumped over 270 million ADA, valued at approximately $170 million, causing the token's price to slide from $0.71 to $0.62.
🔹The sell-off comes amid global geopolitical tensions and a controversial #proposal by Cardano founder Charles Hoskinson to convert $100 million worth of $ADA into $BTC and stablecoins.
🔹While some investors support the move to boost the network’s DeFi potential, others fear it could trigger more downward pressure.
🔹Hoskinson, however, dismissed those concerns, assuring that institutional OTC demand is strong enough to absorb the divestment without destabilizing the broader ADA market.
