Cardano Longs Liquidated as ADA Slides Below $0.19
A market selloff tied to the Binance hack left bullish Cardano traders exposed, with long liquidations far outweighing shorts.
Updated on Nov. 2, 2026 in Cybersecurity
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Cardano recorded $217,710 in long liquidations against $15,020 in shorts, a 1,449% imbalance according to CoinGlass data, as ADA fell to $0.19. The drop followed the October 29 Binance hack that impacted $6.3 billion in crypto assets.
Why it matters
The imbalance shows how quickly leveraged bullish positions can unwind when broader market confidence breaks down. Traders on the wrong side of the move absorbed the losses while the wider crypto market dealt with the fallout from the Binance theft.
CoinGlass data recorded $217,710 in Cardano long liquidations versus $15,020 in short liquidations, a 14.5-times ratio. The figures do not indicate which exchanges or leverage levels were involved, and the source does not break down the liquidations by venue.
The players
Binance
Binance is one of the world's largest cryptocurrency exchanges, which processed billions in withdrawals and deposits following a major hack.
TraderTraitor
TraderTraitor is a hacking group the FBI has attributed to North Korea for the theft of crypto assets.
The details
Cardano fell to a low of $0.182 on October 30 before trading near $0.19, with ADA down 8% over the week. Binance began phased withdrawals on Sunday, processing $4.65 billion in outflows against $1.01 billion in deposits, and has covered around 95% of the $6.3 billion stolen in the October 29 hack.
Timeline
October 29: Binance hack impacts $6.3 billion in crypto assets.
October 30: ADA drops to a low of $0.182.
Sunday, November 1: Binance begins phased withdrawals.
The Tech Race
The Cardano selloff followed the October 29 Binance hack that impacted $6.3 billion in crypto assets and was attributed by the FBI to North Korea's TraderTraitor group. Meanwhile, Intersect's Node 11.2 pre-release moved the Dijkstra hard fork closer to ecosystem-wide testing.
Cardano holders saw the value of their ADA fall below $0.19 during the selloff, with the token down 8% over the week. Users of Binance who need to withdraw funds are subject to phased withdrawals as the exchange works through the outflows.
The takeaway
Leveraged long positions can be wiped out quickly when a sudden security incident shakes market confidence, so traders should size positions with that risk in mind. Watching exchange withdrawal patterns after a hack can also signal how quickly confidence is returning.
What happens next
Intersect's Node 11.3 pre-release, including the Leios upgrade, is expected in about three to four weeks, with two weeks as the earliest possible date.
Further reading
For more on the security incidents shaping crypto markets, see Cybersecurity.
Source note: This article includes information reported by U.
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