Crypto
Cardano ADA Suffers $1.89 Million Long Position Liquidations Amid $0.20 Price Pressure
Total ADA liquidations reached $2.06 million, with long positions accounting for the majority of forced closures at $1.89 million.
The imbalance in favor of long-position losses was a staggering 1,085% according to CoinGlass data.
Cardano's price dropped 1.64% to trade around $0.20 as selling pressure continued to weigh on the token.
The concentration of liquidations in long positions suggests that traders betting on higher prices took the brunt of the losses during this period.