Cardano delegate @ItsDave_ADA votes YES with 70.68 million ADA on Treasury Withdrawal Proposal for Cardano Vision 2026 as ADA holds $0.16.

According to @ItsDave_ADA, Cardano's ADA token has experienced significant volatility, first dropping over 6% to $0.6412 before recovering to trade near $0.6460. This price action is driven by a heated community debate over a proposal from the TapTools team to allocate 140 million ADA (approximately $100 million) from the treasury to bolster stablecoin liquidity for its DeFi ecosystem. Cardano founder Charles Hoskinson supports the initiative, arguing it's crucial for growth and that sales can be managed via TWAP or OTC desks to prevent market disruption. However, influential community members like @cardano_whale warn that introducing such a large supply could create damaging sell pressure in the current market. Amid the debate, the network achieved a bullish milestone, surpassing 1.3 million staking addresses, which reinforces long-term fundamentals. Key technical levels to watch include support established at $0.622 and resistance around $0.645.