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Plans by Charles Hoskinson to Improve Cardano Liquidity

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by Giorgi Kostiuk

12 hours ago

Cardano founder Charles Hoskinson announced plans to boost the network's liquidity by linking it to converting ADA into Bitcoin and stablecoins.

Plan for ADA Conversion

Hoskinson shared the idea of setting aside $100 million in ADA from the treasury to convert it into Bitcoin and a range of stablecoins during a recent webinar. He believes this could help strengthen Cardano's DeFi network.

Liquidity Improvement Goals

Hoskinson stated that his goal is to enhance the DeFi to stablecoin ratio, aiming for a 33% to 40% ratio between issued stablecoins and total locked value in the network.

Current ADA Market Situation

As of the report, the price of ADA is valued at $0.6 per token. The altcoin market has experienced losses, with ADA facing over 20% decline in the past 30 days and over 4.35% in the last week.

The plans announced by Hoskinson for enhancing Cardano liquidity could help stabilize ADA's value and strengthen the network's position in the DeFi space.

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