Cardano Node 11.2 brings Dijkstra closer, but why did its price fall by 6%?

Cardano [ADA] has an update coming soon. 

Node 11.2 is expected to hit mainnet by 8th November, and it will bring Dijkstra features with it.

Usually, a big release would give the price something to work with. Not this time though.

Cardano Node 11.2 pre-release lands, Leios saved for 11.3

Cardano Node 11.2 is out… only as a pre-release for now. The GitHub notes say it isn’t recommended for mainnet yet. The full release, likely tagged 11.2.1, is expected by the weekend (8th November).

The biggest change isn’t quite obvious though.

Node configs now come in a new “envelope” format; nodes older than 11.2 won’t be able to read them. Basically, this means operators will have to upgrade. The node’s API also got a boost. It can now run over a network address instead of only locally, and it picked up new tools for checking the mempool.

On the Dijkstra side, the CLI now handles sub-transactions. Dijkstra transactions can be submitted through the API too.

Leios is only groundwork here, and it’s switched off by default. The real thing is planned for Node 11.3, which is already being built.

Fair Min Fees will have to wait too.

Cardano dropped by 6.7% in a day, but…

… a $0.19 liquidity cluster is right above it.

The sell-off involved ADA falling from about $0.199 on 5th November to a low near $0.178 overnight.

The altcoin eventually clawed its way back to $0.186. However, at press time, it was still 6.7% below where it began.

The RSI on the short-term chart was at 48.3 too.

Additionally, the leverage has also taken multiple hits. Open Interest went down from about $197 million to $181 during the drop.

Funding seemed to be positive too with a reading of 0.0057%. This implied that longs haven’t given up yet.

Here’s what’s interesting, though. There appeared to be big pile of liquidations stacked on the heatmap, between $0.188 and $0.19. These seemed to be just above the press time trading price.

Prices cam often drift toward spots like that.

If Cardano pushes into that zone, those shorts could get squeezed… fast.

Final Summary

• Cardano Node 11.2 is out as a pre-release; full mainnet release expected by weekend.
• ADA fell by about 6.7%, with a liquidation cluster just above the price at press time.