Cardano (ADA) Whale Records $6.2 Million Loss In Botched USDA Stablecoin Swap ⋆ ZyCrypto
The post Cardano (ADA) Whale Records $6.2 Million Loss In Botched USDA Stablecoin Swap ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
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  A sleeping Cardano (ADA) whale has lost over $6 million in a single trade after attempting to convert 14.4 million ADA to USDA. The jarring loss raised eyebrows over Cardano’s readiness to compete in DeFi, with Charles Hoskinson branding the whale as probably “an inexperienced voucher holder.” Cardano Whale Losses $6.2 Million In A Single Click According to on-chain data, a dormant Cardano whale showed signs of activity after executing a swap from ADA to USDA, a Cardano-native stablecoin. Per the report, the swap did not go according to plan, with the whale recording steep losses from the single transaction. The whale attempted to convert 14.4 million ADA, worth $7 million at current prices, into the Cardano-native stablecoin but received less than 850,000 USDA. On-chain sleuth ZachXBT noted that the ADA whale used a low-liquidity pool for the conversion, resulting in a $6.2 million loss. On-chain data showed the fund remained dormant for over 5 years before the attempted swap. The botched swap temporarily depegged the USDA stablecoin amid thin liquidity for the Cardano-native asset. “Onchain clown of the month: A Cardano holder swapped 14.4M ADA ($6.9M) for 847K USDA and lost $6 million due to low liquidity, causing the price to sharply spike temporarily,” read ZachXBT’s post. Advertisement
  The botched transaction piqued the interest of Cardano founder Charles Hoskinson, who branded the whale as an “inexperienced voucher holder” who activated his account and attempted to dump his holdings. The Cardano founder squashed speculation of compensating the whale as critics railed against the network’s stablecoin liquidity issues. Critics stated that the botched transaction can have severe negative “reputational consequences” for Cardano. One vocal voice claimed that Cardano has its priorities wrong, focusing on marketing, Midnight, on-chain governance, and treasury rather than current users. “We…
Filed under: News - @ November 21, 2025 3:29 pm