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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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Cardano stablecoin swap proposal
Key Points:* Cardano proposes a $100 million ADA swap for stablecoins to enhance DeFi liquidity.
The proposition could reshape Cardano’s DeFi landscape by increasing stablecoin usage, despite differing opinions from Cardano CEO Frederick Gregaard regarding DeFi growth metrics.
Cardano’s Strategic Proposal & Community’s Mixed Reactions
Charles Hoskinson explained in a live broadcast that the $100 million ADA swap involves exchanging ADA for Bitcoin and several Cardano-native stablecoins. He emphasized that the current stablecoin deficit stifles Cardano’s DeFi ecosystem. “What is killing Cardano is our stablecoin situation. This would start to solve it. Generate some non-inflationary revenue for the treasury, and help build up our DeFi economy.”
The proposed changes involve broadening stablecoin integration and enhancing Cardano’s DeFi competitiveness. Hoskinson projected that this initiative would help generate non-inflationary revenue for Cardano’s treasury, positioning Cardano more favorably against Ethereum and Solana.
Community reactions reflect a strategic rift regarding Cardano’s approach to growth, particularly in focusing on liquidity metrics versus regulatory and institutional engagements. The proposal demands community approval, where concerns about the move’s prudency versus long-term sustainability remain contested.
Market Overview
Did you know? Cardano’s current DeFi stablecoin supply represents merely 10% of its TVL, significantly trailing behind Solana’s and Ethereum’s robust ecosystems, revealing a stark contrast in stablecoin adoption strategies.
According to CoinMarketCap, Cardano (ADA) trades at $0.64 with a market cap of $22.56 billion and a circulating supply of 35.36 billion ADA. Recent statistics indicate a 0.97% rise over 24 hours, a 3.23% decrease over 7 days, and a 19.36% decline over 30 days.
| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |