Cardano: Delegate Rejects Builder DAO Treasury Bid

Cardano delegate @ItsDave_ADA cast 72.34 million voting power against the Cardano Builder DAO treasury withdrawal and abstained on the 4.97 million ADA ticketing platform ask, citing excessive size relative to falling TVL and easily gamed metrics. The move highlights governance friction in the past six months as treasury requests climb while on-chain economic activity contracts. With ADA trading at $0.16 and testing lower Bollinger support against EMA50 and EMA200 both at $0.17, the bearish MACD death cross and neutral RSI at 34.08 point to continued downside pressure before any recovery attempt. This technical setup aligns with broader ADA price prediction models factoring in crypto market crash risks and limited Bitcoin correlation strength over the last year.