🔥 CHARLES HOSKINSON SUGGESTS SELLING 100 MILLION ADA TO BUY BITCOIN AND STABLECOIN

Charles Hoskinson, the co-founder of Cardano, recently proposed using 100 million ADA from the reserve fund to convert into stablecoins (such as USDM and USDA), with a portion being exchanged for Bitcoin to develop DeFi related to Bitcoin on the Cardano platform.

In response to concerns that selling a large amount of ADA could impact the price, Hoskinson countered, stating that those who are worried are inexperienced and affirmed that this would not cause any issues.

Hoskinson's goal is to increase the share of stablecoins and the total value locked (TVL) on Cardano to about 30% to 40%, while currently it only stands at about 10%.

According to data from DefiLlama:

– Cardano currently has a TVL of about 356 million dollars, but only 31 million dollars of stablecoins issued on-chain

– Meanwhile, Solana is leading with a TVL of up to 9.8 billion dollars and 11 billion dollars of stablecoins issued on-chain.