Traders betting on higher prices of Cardano (ADA) suffered massive losses during the broader cryptocurrency market selloff. According to CoinGlass data, ADA liquidations reached $4.27 million, with $4.2 million coming exclusively from long positions, creating a 5,747% imbalance. Bitcoin and the overall crypto market experienced significant selling pressure following the US inflation data release, with $913 million in futures positions liquidated in 24 hours. ADA’s price dropped to $0.224 after hitting a low of $0.216. Meanwhile, Cardano continues developing its infrastructure with the testnet Musashi Dojo for Ouroboros Leios entering its Fire phase.
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