Midnight

bullish

Cardano

<p style="text-align: justify"><a href="https://en.coin-turk.com/cardano-gains-3-5yuzde-eyes-0-19-after-bullish-breakout-and-whale-accumulation/" rel="noopener noreferrer nofollow">Cardano</a> markets faced significant volatility after a sharp price decline triggered an unexpected liquidation imbalance, with bullish traders caught on the wrong side of selling pressure. Data from CoinGlass indicated that Cardano recorded $217,710 in long liquidations compared to $15,020 for short positions, resulting in an imbalance of 1,449% between the two sides.</p>
<h2 id="fallout-from-binance-hack-shakes-crypto-sentiment">Fallout from Binance hack shakes crypto sentiment</h2>
<p style="text-align: justify">The broader cryptocurrency landscape has yet to recover from a downturn in sentiment following the large-scale Binance hack on October 29. The incident impacted $6.3 billion in crypto assets. Binance commenced phased withdrawals on Sunday, processing $4.65 billion in withdrawals against $1.01 billion in deposits, resulting in a net outflow of $3.64 billion according to the exchange. The company reported that 95% of stolen funds have now been covered. The FBI attributed the theft to the North Korean-affiliated TraderTraitor group.</p>
<p style="text-align: justify">Although the Cardano and Midnight ecosystems were spared from direct losses—the stolen assets did not include ADA or NIGHT tokens—the prevailing negative sentiment has still affected market performance. Prices for both tokens have tracked the downward trend in line with the broader market retreat.</p>
<h2 id="cardano-price-action-and-liquidations">Cardano price action and liquidations</h2>
<p style="text-align: justify">Cardano (ADA) slipped 1.29% in the last 24 hours, trading at $0.19. Over the past week, it has fallen 8%, struggling to move above $0.197 after reaching a low of $0.182 on October 30. The decline has weighed heavily on leveraged long traders, leading to the pronounced liquidation imbalance. In this scenario, the liquidation of long positions significantly outpaced shorts, resulting in forced selling that further pressured prices.</p>
<blockquote>
 <p>Cardano’s long liquidations totaled $217,710, dwarfing the $15,020 seen on the short side—an imbalance that reached 1,449% as bullish traders were rapidly squeezed out of their positions.</p>
</blockquote>
<h2 id="development-progress-and-ecosystem-updates">Development progress and ecosystem updates</h2>
<p style="text-align: justify">Despite the challenging trading environment, development within the Cardano ecosystem continues. Intersect’s latest update revealed that Node 11.2 is now available as a pre-release. This update advances the Dijkstra era, bringing the hard fork feature set closer to ecosystem-wide testing and integration, with the exception of Leios. The milestone is expected to support downstream teams as they begin integrating and testing updated tools, laying groundwork for the network’s long-term roadmap.</p>
<p style="text-align: justify">Meanwhile, work is ongoing on the Leios-inclusive Node 11.3 prototype in the Musashi Dojo testing environment. In addition, teams are focused on refining Plutus V4 cost models, drafting scope documentation, developing constitutional amendments, and improving delivery risk management. Estimates suggest that Node 11.3 will enter pre-release in approximately 3 to 4 weeks, or 2 weeks at the earliest. SanchoNet is also anticipated to join other Cardano testnets as they transition to the Dijkstra era in parallel.</p>
<p style="text-align: justify">Given the heightened volatility surrounding ADA, investors aiming to track these rapid liquidation events and price swings can benefit from real-time charting and customizable portfolio options. <a href="https://lk.software/cryptoappsy/" rel="noopener noreferrer nofollow">CryptoAppsy</a> provides Cardano holders with continuous market monitoring, instant alerts for major price moves, and up-to-date news—all in one interface—empowering users to react swiftly as trading imbalances develop.</p>
<p>The post <a href="https://en.coin-turk.com/cardano-long-liquidations-surge-1449yuzde-after-sharp-price-drop-binance-hack-weighs-on-sentiment/" rel="noopener noreferrer nofollow">Cardano long liquidations surge 1,449% after sharp price drop, Binance hack weighs on sentiment</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Cardano long liquidations surge 1,449% after sharp price drop, Binance hack weighs on sentiment

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