$ADA

The ADA currency experienced a sharp decline of about 6% following a split in the Cardano community over a proposal to withdraw 100 to 140 million ADA from the treasury to support the liquidity of stablecoins within the system.

🔍 Debate between two teams:

The supporters, led by Charles Hoskinson, believe that this step is necessary to enhance DeFi and expand the use of the treasury, with well-thought-out plans to reduce the impact through OTC transactions and tools like TWAP.

The opponents fear potential selling pressure due to the public announcement of the amount, which could cause excessive drops, and prefer to focus on launching stablecoins backed by crypto collateral instead of liquidating ADA.

📉 From a technical perspective:

The price dropped from ~$0.688 to ~$0.625 before rebounding to ~$0.641. Currently, there are support channels at ~$0.622–0.636, while the resistance level at ~$0.645 stands as an obstacle to the full recovery of the price.