Cardano

Million

Cardano is taking a massive beating throughout the past few days. The cryptocurrency is down a whopping 23% in the last 24 hours alone.
The majority of the altcoins are also trading well in the red, triggering liquidations of close to $400 million.
<ul>
<li>Cardano (ADA) and a bunch of other altcoins are plummeting today. ADA alone is down 23% in the past day as investors fear a potential clash with the SEC.</li>
<li>Data from Coinglass shows that the entire market&#8217;s liquidations have ramped up to close to $400 million for the same period.</li>
<li>As CryptoPotato <a href="https://cryptopotato.com/the-sec-claims-these-coins-are-securities-in-the-lawsuit-against-coinbase/" data-wpel-link="internal">reported</a> earlier this week, the SEC filed a lawsuit against Coinbase. In it, the agency claims that a bunch of altcoins are essentially fitting the requirements of being securities, and ADA is among them.</li>
<li>In a recent blog post, Cardano&#8217;s Input Output Global &#8211; the firm behind Cardano&#8217;s ecosystem &#8211; released a statement dismissing the claims that ADA is security.</li>
</ul>
<figure id="attachment_254666" aria-describedby="caption-attachment-254666" style="width: 1532px" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231.jpg" data-wpel-link="internal"><img class="size-full wp-image-254666" src="https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231.jpg" alt="ada_price_chart_1006231" width="1532" height="975" srcset="https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231.jpg 1532w, https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231-300x191.jpg 300w, https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231-1024x652.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231-768x489.jpg 768w, https://cryptopotato.com/wp-content/uploads/2023/06/ada_price_chart_1006231-50x32.jpg 50w" sizes="(max-width: 1532px) 100vw, 1532px" /></a><figcaption id="caption-attachment-254666" class="wp-caption-text">Source: TradingView</figcaption></figure>
The post <a href="https://cryptopotato.com/cardano-ada-crashes-23-in-a-day-as-total-liquidations-near-400-million/" rel="nofollow">Cardano (ADA) Crashes 23% in a Day as Total Liquidations Near $400 Million</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Cardano (ADA) Crashes 23% in a Day as Total Liquidations Near $400 Million

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