#CardanoDebate 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:

Supporters led by Charles Hoskinson believe that this step is essential to enhance DeFi and expand the use of the treasury, with well-thought-out plans to mitigate the impact through OTC deals and tools like TWAP.

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

📉 Technically:

The price dropped from ~$0.688 to ~$0.625 before bouncing back 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.