Cardano (ADA) Faces 5747% Liquidation Imbalance as Longs Get Hit in Market Selloff

Cardano saw a 1,449% liquidation imbalance surge after bulls were caught off guard amid fresh selling pressure. The crypto market has yet to recover amid dull sentiment following the Binance hack on October 29, which impacted $6.3 billion in crypto assets. Binance began phased withdrawals on Sunday, processing $4.65 billion of withdrawals against $1.01 billion of deposits, a net outflow of $3.64 billion, the exchange said. It has now covered around 95% of the $6.3 billion stolen, and the FBI formally attributed the theft to North Korea's TraderTraitor group. Despite this, the crypto market stays in limbo, with most digital assets trading in the red at press time, including Cardano, which is down 1.29% in the last 24 hours to $0.19.

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