Cardano Liquidations Soar 1085% Amid Fed Rate Hike Fears

Cardano's price plummeted to $0.20 on September 10, sparking a massive liquidation imbalance of 1,085% in leveraged positions.

The decline caught traders betting on an increase off guard, with over $2 million worth of long and short positions liquidated in the past 24 hours.

Growing expectations that the Fed might raise interest rates alongside renewed inflation concerns had triggered a selloff in the markets, causing Cardano to fall for four straight days from September 7 to 10.