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Cardano founder Charles Hoskinson proposed a 100 Million Dollar Bitcoin (BTC) and ADA exchange suggestion! Will the ADA price drop?
Charles Hoskinson, the founder of Cardano, who drew the market's attention with his statements, announced his proposal of 100 million dollars.
According to Coindesk, Charles Hoskinson proposed converting a $100 million ADA reserve into Bitcoin (BTC) and local stablecoins USDM and USDA to revitalize and strengthen the DeFi and stablecoin ecosystem.
Hoskinson stated that with this proposal, he aims to increase the stablecoin-TVL ratio from 10% to 30-40%. Hoskinson mentioned that the current 10% stablecoin-TVL ratio is killing Cardano.
According to DefiLlama data, the total TVL of Cardano is 356 million dollars, while the value of minted stablecoins is only 31 million dollars.
In contrast, Solana has a TVL of $9.8 billion and $11 billion worth of stablecoins minted on-chain.
After the proposal for a sale worth 100 million dollars, criticisms have arisen that this will affect the price of ADA, while Hoskinson dismissed the concerns regarding the price effect as unfounded.
Hoskinson, who responded to critics by calling them inexperienced, added that the sale would not cause any problems.
*Not investment advice.
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