Logo
Cardano Ecosystem

Elevenews

03/27/2023

·

110 views


Cardano (ADA) Liquidation Data Shows Bullish Interest Is Waning, Here's How - ELEVENEWS

Cardano (ADA) is currently being overshadowed today as its price has slipped by more than 1.77% over the past 24 hours to $0.3514. The Cardano price can be said to be consolidating as the daily loss is...

Cardano (ADA) Liquidation Data Shows Bullish Interest Is Waning, Here's How - ELEVENEWS

Cardano (ADA) is currently being overshadowed today as its price has slipped by more than 1.77% over the past 24 hours to $0.3514. The Cardano price can be said to be consolidating as the daily loss is currently being eroded by 2.34% growth in the week-to-date (WTD) period.

While Cardano remains a top asset, data from CoinGlass has shown that there is reduced interest in ADA with respect to the number of traders taking a long position on the token. Per liquidation data, Cardano suffered an approximately 716.08K ADA token liquidation worth as much as $253,000 at the time of writing.

The liquidation data was for a 12-hour time period, and when further expanded, it will be observed that Cardano has even fewer long positions open when compared to other altcoins profiled. While it can be generally agreed that liquidation is not necessarily good news for traders, it can gauge how optimistic traders are that the price of ADA will keep appreciating in the mid- to long term.

Cushion Cardano’s growth Cardano is a strategically growing Layer 1 proof-of-stake (PoS) blockchain network with a number of developmental efforts being put into growing the protocol. Among the several initiatives is the Hydra scaling tool being worked on at this time, which is billed to help increase the throughput of transactions on the blockchain.

ADA is primed to benefit from the targeted protocol upgrades in the near future as the increasing innovations making their way onto the network are bound to increase the demand for the digital currency, which will in turn increase its value over time. Cardano has been experiencing significant whale actions in recent times that show that despite the limitation in growth prospects, the transactional outlook is robust and might contribute to its impending price growth.

News Source

AD

NotifyLog.com - One stop tool for events tracking and analytics

NotifyLog is a powerful tool for events tracking and analytics. It helps you to track events from your website, mobile app, and server.CREATE YOUR FREE ACCOUNT NOW!


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2023/03/27/cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Elevenews

See more
Cardano Whales Move 313 Billion ADA as Network Shows Outstanding Performance - ELEVENEWS
Elevenews
Cardano Whales Move 313 Billion ADA as Network Shows Outstanding Performance - ELEVENEWS

yesterday at 7:34 AM

·

9 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)