Cardano (ADA) Faces 5747% Liquidation Imbalance as Longs Get Hit in Market Selloff
Photo: U.Today
Traders betting on higher prices of Cardano (ADA) are under increased pressure as a wider sell-off in the cryptocurrency market is leading to liquidations that are heavily skewed toward longs. Cardano (ADA) extended its drop early Thursday following a hotter-than-expected CPI report, with the continued price decline taking a toll on bulls, who suffered the brunt of liquidations. According to CoinGlass data, Cardano saw a total of $4.27 million in liquidations, with longs accounting for almost all of this figure at $4.2 million while shorts came in at $73,080.
Source: U.Today
