Cardano is back in the spotlight today, and itโs a mix of big wins ๐ and big debates ๐ง. The project just hit a major milestone with over 2,000 projects now building on its blockchain ๐ป, but at the same time, ADAโs price took a hit ๐ after a controversial proposal was introduced.
๐ฐ The hot topic: Charles Hoskinson, Cardanoโs founder, backed a proposal to use $100 million worth of ADA from the treasury to support DeFi by converting some of it into stablecoins (like USDM) and Bitcoin โฟ. Some people think this is a smart long-term move ๐, while others worry it could hurt ADAโs price if not handled carefully โ ๏ธ.
Hoskinson says itโll be done gradually using TWAP or OTC methods to avoid big market impact. Still, the market reacted fast โ ADA fell from around $0.68 to $0.62 in one day ๐ฌ. Itโs recovered a little, but things are still shaky.
๐ฑ On the bright side, Cardanoโs ecosystem is thriving:
2,000+ projects are now building on Cardano ๐๏ธ
138,000+ smart contracts (Plutus scripts) have been deployed ๐
Dev activity is up ๐, with hundreds of GitHub commits this week ๐ง
Clearly, the builder community is strong ๐ช and committed.
๐ฎ Whatโs next for ADA?
To avoid further losses, ADA needs to hold support at $0.62. If it does, thereโs a good chance of bouncing back to $0.67โ$0.70 ๐. But everything now hinges on how the treasury proposal is handled and whether the community feels confident about it.
๐ง Final take:
Cardano is growing fast. Builders are building, and innovation is alive โก. But the treasury proposal is a big test of community trust ๐ค and price stability. If youโre holding ADA or watching from the sidelines, nowโs the time to stay alert ๐ โ things could move quickly from here.
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