Cardano Price Slumps to $0.20 Amid Derivatives-Driven Sell-Off

The price of Cardano (ADA) has fallen to $0.20 due to derivatives-driven sell-offs from extreme long liquidations.

This move triggered $1.17 million in derivatives liquidations within 24 hours, with longs accounting for a staggering 99% ($1.16 million) of the losses.

The imbalance between long and short liquidations is extreme, at 10,166%, indicating that the market is heavily skewed toward bullish positions and failing at this level.

Cardano's price drop was also amplified by hawkish comments from Federal Reserve Chair Kevin Warsh, which dampened risk appetite across crypto markets.