Leveraged ADA Longs Liquidated in Selloff
Cardano's 1,449% liquidation imbalance points to crowded bullish positioning, while the Dijkstra upgrade remains at pre-release testing.
Updated on Nov. 2, 2026 in Cybersecurity
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Cardano saw a 1,449% liquidation imbalance on CoinGlass data, with $217,710 in long liquidations against $15,020 in short liquidations as a market selloff caught bullish traders on the wrong side. ADA is down 8% weekly and traded near $0.19 at press time. This is a market event, not a technology release.
Why it matters
The liquidation skew shows leveraged long positions were concentrated and exposed when prices fell, a pattern that amplifies moves in smaller crypto markets. The selloff ran alongside the aftermath of a $6.3 billion Binance theft that the FBI attributed to North Korea's TraderTraitor group, keeping security concerns high across the sector.
The figures come from CoinGlass liquidation tracking, which records forced closures of leveraged futures positions. Cardano's long liquidations ran 14.5 times its short liquidations, a 1,449% imbalance, as ADA fell to $0.19. Whether the imbalance reflects a broader shift in positioning is not established by the data alone.
The players
Binance
The largest crypto exchange by volume, which covered about 95% of the $6.3 billion stolen in the October 29 hack.
FBI
The U.S. federal law enforcement agency that attributed the Binance theft to North Korea's TraderTraitor group.
Intersect
The Cardano-ecosystem organization that released Node 11.2 as a pre-release toward the Dijkstra hard fork.
The details
Liquidations occur when an exchange forcibly closes a leveraged trader's position after the price moves against them beyond their collateral. In this case, traders betting on a price rise (long positions) were closed out as ADA fell, producing $217,710 in long liquidations against $15,020 in short liquidations. Separately, Binance began phased withdrawals on Sunday after processing $4.65 billion in withdrawals against $1.01 billion in deposits.
Timeline
October 29: the Binance hack affecting $6.3 billion in crypto assets occurred.
October 30: ADA dropped to a low of $0.182.
Sunday, November 1: Binance began phased withdrawals.
Node 11.3, including Leios, is expected in about 3 to 4 weeks, two at the earliest.
The Tech Race
The Dijkstra hard fork is the Cardano ecosystem's next major protocol upgrade, and Intersect's Node 11.2 pre-release moves it toward ecosystem-wide testing. Meanwhile, SanchoNet is expected to join other Cardano testnets in transitioning to the Dijkstra era.
Traders holding leveraged long positions in ADA faced forced closures during the selloff, and exchange users were affected by Binance's phased withdrawals starting Sunday. The Dijkstra upgrade's pre-release testing does not yet change how Cardano works for everyday users.
The takeaway
The sharp liquidation imbalance shows how exposed leveraged crypto positions remain to sudden price drops. Watch for Node 11.3 and its Leios component, expected in about 3 to 4 weeks, as the next checkpoint on Cardano's Dijkstra upgrade.
What happens next
Node 11.3, tagged as a pre-release including Leios, is expected in about 3 to 4 weeks, or two weeks at the earliest, and SanchoNet is expected to move to the Dijkstra era alongside other Cardano testnets.
Further reading
For broader context on the security threats behind this sector's volatility, see the Cybersecurity section.
Source note: This article includes information reported by U.
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