$ADA
The founder of Cardano, Charles Hoskinson, has proposed using 140 million ADA (~100 million USD) from the treasury to promote DeFi development by purchasing BTC and native Cardano stablecoins (USDM, USDA, IUSD). ADA dropped by 6% after this announcement, as the community remains divided. Some view this as a bold step towards the maturity of the ecosystem, while others argue that this carries risks in the context of the market and governance concerns.
The founder of Cardano, Charles Hoskinson, has proposed using 140 million ADA (~100 million USD) from the treasury to promote DeFi development by purchasing BTC and native Cardano stablecoins (USDM, USDA, IUSD). ADA dropped by 6% after this announcement, as the community remains divided. Some view this as a bold step towards the maturity of the ecosystem, while others argue that this carries risks in the context of the market and governance concerns.