Cardano Invests $100M to Boost Stablecoin Adoption

Cardano’s founder, Charles Hoskinson, plans to allocate $100 million of ADA cryptocurrency into Bitcoin and stablecoins. This initiative aims to increase the network’s stablecoin issuance ratio from under 10% to a target range of 33-40%. The move comes in response to DeFi shortages within the Cardano ecosystem, aiming to align its infrastructure with more established markets. Following this announcement, ADA’s price dropped around 4%, reflecting investor anticipation of potential selling pressure.