The Cardano (ADA) liquidation imbalance soared up by 6,127% in the last hour as long position traders lost $527,000 on the crypto market. This comes as the price of ADA dipped sharply within the period as volatility continues to impact the altcoin.
Cardano price drops below key levels as trading volume declines
CoinGlass data shows that traders betting on a bullish comeback for Cardano were wiped out within the hour. These investors lost over half a million dollars as the price dip triggered massive liquidation.
Notably, investors in the Cardano space were betting on higher figures after ADA reached a peak of $0.2941. The anticipation was high that ADA could finally breach the $0.30 resistance and attempt upward movement.
However, the price slipped suddenly to leave bulls disappointed. As of this writing, Cardano exchanges hands at $0.2762, which represents a 2.88% decline in the last 24 hours. The coin’s outlook is further worsened by crashing volume.
Cardano’s trading volume has dipped by 25.86% to $581.92 million within the same time frame. However, the asset’s Relative Strength Index (RSI), which stands at 72.12, signals overbought conditions, and this offers consolation of a possible rebound.
In Cardano’s liquidation, those betting short on the asset suffered a mild loss of $8,470 within the same period.
Cardano falls out of Top 10 as Hyperliquid overtakes market cap
Amid the ongoing liquidation, Cardano’s bearish outlook has pushed it out of the Top 10 crypto assets by market capitalization
Its price drop leaves its market cap at $10 billion and has been displaced by Hyperliquid (HYPE), whose market cap stands at $10.47 billion.
It is worth mentioning that this displacement can easily be overturned if ADA rebounds in price. So, the Top 10 battle remains in contention amid the ongoing fluctuation on the crypto market.
The last time ADA slipped from the Top 10, it was able to reclaim it when open interest surged in the Cardano ecosystem. A repeat could see that reoccur
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
PORTAL (Portal) up 37.00% over the past 24 hours
Gate News update: On April 21, according to Gate market data, as of the time of writing, PORTAL (Portal) is trading at $0.01548. It is up 37.00% over the past 24 hours, with a high of $0.01636 and a low of $0.01142. The 24-hour trading volume is $0.6021 million. The current market cap is approximately $11.7307 million.
Portal is a cross-chain gaming platform, and its mission is to attract more players to join Web3.0.
This update does not constitute investment advice. Investing involves risks, including market volatility.
GateNews2m ago
TradFi Fall Alert: ZHIPU (ZhiPu 02513.HK) Falls Over 4%
Gate News: According to the latest Gate TradFi data, ZHIPU (ZhiPu 02513.HK) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews35m ago
HELLO (HELLO Labs) surges 86.31% in 24 hours
Gate News update, April 21, according to Gate market data, as of the time of writing, HELLO (HELLO Labs) is trading at $0.00317. Within the past 24 hours, it has risen 86.31%, reaching a high of $0.00348 and a low of $0.00176. The 24-hour trading volume is $64.4k. The current market cap is approximately $1.6864 million.
HELLO Labs is the future of cryptocurrency and entertainment— a Web3-native ecosystem that supports incubating, producing, funding, and releasing original programs, games, and NFTs. The $HELLO token is at the core of the Web3 ecosystem. $HELLO is used to access exclusive content, play games, and buy NFTs in the HELLO marketplace.
This news is not investment advice; investment involves risks and you must consider market volatility.
GateNews59m ago
TradFi Rise Alert: TW88 (MSCI Taiwan) Rises Over 1.5%
Gate News: According to the latest Gate TradFi data, TW88 (MSCI Taiwan) has surged by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews1h ago
GT up 3.08% in 24H, current price 7.34 USDT
Gate News bot message, Gate market shows, GT is up 3.08% in the past 24 hours, with a current price of 7.34 USDT.
CryptoRadar3h ago
Dogecoin Holds $0.094 as X Cashtags Drive Market Attention
Key Insights
Dogecoin holds above $0.094 despite market weakness as Bitcoin and Ethereum stabilize, reflecting resilience and sustained demand across major cryptocurrencies during the consolidation phase.
X launches smart cashtags enabling real-time crypto and stock tracking, improving marke
CryptoNewsLand8h ago
