- Ah, the eternal conundrum: to stablecoin or not to stablecoin? Hoskinson proposes a 140M ADA conversion to boost Cardano‘s DeFi liquidity, but will it be a panacea or a Pandora’s box? 🤔
- Critics warn of further ADA price drops, because, of course, the market is as fragile as a butterfly’s wings. 🦋
Cardano, the belle of the DeFi ball, is facing a liquidity crisis that’s as dry as the Sahara desert. Despite its on-chain metrics being as neat as a pin, ADA’s recent price drop has left investors scratching their heads like a befuddled emoji 🤷.
Hoskinson, the maestro of Cardano, has taken to X (formerly Twitter, because who needs a decent name, anyway?) to shed light on the stablecoin shortfall. He’s as keen as a hawk to close the gap between Cardano’s stablecoin market cap and its DeFi TVL, which is as wide as the Grand Canyon. 🏞️
The markets are deep, my friends! We could convert 140 million ADA without making a ripple, using OTCs and TWAPs. It’s a false narrative, a mere mirage on the horizon. 🌅
Hoskinson’s plan is as bold as a lion’s roar: turn 140 million ADA into USDM, the blockchain’s fiat-backed stablecoin. It’s a move that could bridge the liquidity gap and generate non-inflationary revenue for the treasury, all while helping to build up Cardano’s DeFi economy. It’s a veritable hat-trick! 🎩
The Critics’ Conundrum
But, alas, not everyone is as enamored with Hoskinson’s plan as he is. The critics are as skeptical as a cat in a bathtub, warning that the market might struggle to withstand the selling pressure from such a large ADA conversion. It’s a valid concern, as valid as a mathematical proof. 📝
Others argue that the timing is as off as a broken clock, given the broader market downturn. It’s a bit like trying to catch a falling knife, only to find that the knife is as slippery as a snake’s hind legs. 🐍
it’s going to be a wild ride. 🎢
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2025-06-13 15:09