🔸 Are they saving DeFi or sinking ADA..?
The Cardano (ADA) currency dropped about 6% after a heated debate over a proposal to withdraw 100–140 million (ADA) from the project’s treasury to support liquidity in stablecoins. $ADA
• The pro team led by Cardano founder Charles Hoskinson believes that this move will revitalize decentralized finance projects without directly harming the price if executed wisely through OTC deals or tools like TWAP.
• But the opposing team warns: announcing an amount of this size could provoke panic and push the price down, and they believe it's better to launch stablecoins backed by crypto assets without liquidating ADA from the treasury.
🔸 In the market: ADA dropped from ~$0.688 to ~$0.625 then bounced back to ~$0.641.. but it is still under strong resistance at ~$0.645. The nearest support is in the range of ~$0.622–0.636.
🔸 Summary: ..
The decision could open a new door for Cardano's success in DeFi or be a trap that shakes investor confidence.. Is it a calculated risk or a reckless step..?
