Cardano

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In an unexpected turn of events within the crypto market,&nbsp;<a href="https://u.today/cardanos-bullish-hourly-golden-cross-will-ada-rally" rel="noopener noreferrer nofollow">Cardano (ADA)</a> has experienced an extraordinary surge in bullish liquidations, diverging significantly from the bearish ones. Over the course of just one hour, there has been a remarkable $320,670 liquidated from long positions, a figure that dwarfs the comparatively small $8.97 liquidated from short positions, resulting in an astonishing disparity of nearly 4,000,000%. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="e133f98e-e14a-44fd-900a-ba8d816b4faa" src="https://u.today/sites/default/files/inline-images/cardanoada_0.png">Source: <a href="https://www.coinglass.com/currencies/ADA" rel="noopener noreferrer nofollow">CoinGlass</a>
The surge in bullish liquidations coincided with a 3% decline in&nbsp;<a href="https://u.today/cardano-unveils-crucial-upgrade-as-price-aims-for-rebound" rel="noopener noreferrer nofollow">Cardano's price</a> within the same hour. One major contributing factor could be named recent negative macroeconomic indicators from the US economy.&nbsp;
Among these indicators, the Michigan Consumer Sentiment Index dropped from 77.2 to 67.4, reflecting a decrease in consumer confidence. Additionally, consumer inflation expectations saw an uptick, with 1-year expectations rising from 3.2% to 3.5%, and 5-year expectations increasing from 3% to 3.1%. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="59b4aedb-02ca-4b54-9bb3-cb4503d5cf9d" src="https://u.today/sites/default/files/inline-images/cardano_6.png">ADA to USD by <a href="https://coinmarketcap.com/currencies/cardano/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
The Michigan Consumer Sentiment Index serves as a gauge of consumer sentiment regarding economic conditions, with lower values indicating reduced confidence, which can impact spending patterns. Meanwhile, the rise in inflation expectations suggests that consumers anticipate higher prices for goods and services in the future, potentially leading to changes in spending behavior and economic dynamics.
This combination of economic factors may have influenced market sentiment, contributing to the surge in liquidations observed in&nbsp;<a href="https://u.today/cardano-skyrockets-90-in-volume-as-ada-price-makes-surprising-reversal" rel="noopener noreferrer nofollow">Cardano</a> trading. However, the fact that long liquidations exceeded shorts by 4,000,000% is obviously due to excessive greed reigning the market.

Cardano (ADA) Eyes Crazy Anomaly with 4,000,000% Surge in Bulls Liquidations

U_Today

Другие статьи, опубликованные 10 мая 2024 г.

Bitcoin’s ‘Kimchi Premium’ Shrinks Amidst South Korea’s Fading Crypto Fervor

UK completely gets out of recession – but check this out

Gary Gensler Ethereum Classification Is Now Under Criticism Over Conflicts

Why Is Kaspa Pumping While The Crypto Market Is Down? Analysts Reveal When KAS Will Reach New ATH

BNP Paribas Buys BlackRock spot Bitcoin ETF Shares!

Will Solana Price Reach $300 in May? Here’s All

Join our free newsletter for daily crypto updates!