“Cardano’s Ada Token Dipped More than 6% as Charles Hoskinson Defended a Proposal to Deploy 140M Ada from the Treasury to Kick-Start Stablecoin Liquidity.”, – WRITE: www.coindesk.com
On Wednesday, The Taptools Team Asked Its Followers on X Whaty They Think About the Idea of Deploying 140 Million Ada (AROUND $ 100 MILLION) TO PROVIDE LIQUIDITY FOR STABIDSOINS LIKOINS LIKOINS Growing Decentralized Finance Sector.
Not everyone is on Board. Influential account @cardano_whale argued that intraducking 140 Million ada in sell Pressure Under Current Market Conditions Wound Be Damaging. He acknowledged the potential long-term defi benefit But Warned that Governance Proposals Are Typical Front-Run by Traders, Meaning Any Public Plan to Supl Enda .70 $ 0.50. Insthead, He favored Minting Crypto-Backed Stablecoins Like OBYUSD to Avoid Direct Selling Pressure.
Cardano Founder Charles Hoskinson Pushed Back Strongly, Calling The Sell Pressure Conceerns a “False Narrative.” In his view, the Treasury Could Convert the 140 Million Ada Gradual Over-The-Counter or Through Algorithmic Execution Strategies Like-Weightd Average Price (Twap). He Emphasized that Cardano’s Lack of Stablecoin Depth is Holding the EcoSystem Back, and this Initiative Could not on Only Address that Gap But Also Generate Sustainable, Non-Inflage.
The Community Remains Divides. WHILE SOME SEE as a Bold Step to Finally Give Cardano Defi A Stable Foundation, Other View the Plan as Premature, Particularly Given Current Market Weakness and Adae The debate have become a litmus test for how cardan-balances Long-Term Growth with Near-Term Token Economics.
Technical Analysis Highlights
- Ada Fell From $ 0.688 to $ 0.625 Before Bouncing Back to $ 0.641, A 6.01% Drop on the Day.
- Volume Spiked During the Breakdown Between 01: 00–02: 00 UTC, Establishing Strong Support at $ 0.622.
- A 58% Recovery Off The Lows ForMed A Rising Channel, with Higher Lows Pointing to Mild Accoupumulation.
- Resistance AT $ 0.645 Has Capped Upward Momentum for Now, with Buyers Stepping in Near $ 0.636.
- Volume Peaks at 13:50 and 14:00 UTC (2.6M and 5.7M ADA) Suggest Renewed Interest But Limited Follow-TROUGH.
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