#CardanoDebate
🚀$100M Treasury Proposal Sparks ADA Volatility
Cardano’s ADA dropped 6%to $0.6412 amid heated community debate over a proposal to sell 140M ADA (~$100M) from the treasury to boost stablecoin liquidity. Key points:
- Split Opinions : Critics like @cardano_whale warn of sell pressure risks, urging crypto-backed stablecoins (e.g., ObyUSD) instead. Founder Charles Hoskinson defends gradual OTC/algo sales to minimize market impact.
- Market Reaction : ADA rejected $0.68, tested $0.625, then rebounded to $0.64 with resistance at $0.645. Volume spikes hint at accumulation but weak follow-through.
- Bigger Picture : The debate tests Cardano’s balance between **DeFi growth** (needing stablecoins) and short-term price stability.
Meanwhile, some holders pivot to projects like Remittix, citing Cardano’s 25% YTD drop and governance fatigue.