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BREAKING: Cardano whale DUMPS $6.05M in illiquid stablecoin 💸📉 Why did they risk it all
cardano whale goes 📉 90% on $6M from converting to an illiquid stablecoin: low liquidity causing devaluation; card
Key takeaways 🐋
Why did the whale lose $6 million? Low liquidity led to fund devaluation due to fluctuations.
What is the status of Cardano DeFi? Cardano faces challenges with limited stablecoin supply and low TVL.
A Cardano whale lost $6.05 million trading due to illiquid platforms. The fluctuation was blamed on the stablecoin’s low liquidity by analyst ZachXBT.
Interestingly, the whale made a small test transfer before the significant loss. Cardano’s DeFi liquidity issues stem from low stablecoin supply, hindering seamless trading experiences.
https://altcoin.observer/cardano-whale-loses-90-of-its-ada-after-converting-to-an-illiquid-stablecoin/
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