ADA: DRep Votes No on 7.8M Singapore Summit Spend

ADA DRep @ItsDave_ADA cast a NO vote against the 7.8 million ADA treasury withdrawal for the revised Cardano Summit 2026 in Singapore, representing 69.24 million ADA in delegated power.

The delegate praised the location choice and alignment with TOKEN2049 yet rejected the ask due to the 80 percent upfront unlock structure and current ADA market position, arguing treasury resources must target higher-priority ecosystem needs instead.

Price action on the 4h chart shows ADA trading at $0.24 inside the Bollinger Bands with EMA50 at $0.24 and EMA200 at $0.25 forming immediate resistance while MACD registers a death cross; with RSI at 42.68 the market lacks momentum to break upper-band resistance at $0.25, pointing to a likely test of lower-band support at $0.23 before any sustained recovery.