Key Takeaways
- A dormant Cardano wallet misplaced over $6 million in a low-liquidity ADA-to-USDA swap.
- The wallet had not been energetic for 5 years earlier than the disastrous transaction.
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A Cardano wallet holder misplaced over $6.1 million right this moment in a disastrous swap after 5 years of inactivity, in line with on-chain data reported by ZachXBT.
The holder exchanged 14.4 million ADA tokens, valued at $6.9 million, for 847,000 USDA. USDA is a Cardano native stablecoin launched by Anzens designed for quick, low-cost international funds and cross-border transactions in the Cardano ecosystem.
The huge loss occurred as a result of low liquidity in the buying and selling pool, which led to a brief spike in value through the transaction.
The transaction highlights dangers related to buying and selling massive quantities of crypto belongings in swimming pools with inadequate liquidity, the place sizable orders can dramatically influence costs and outcome in unfavorable execution charges.
ADA was buying and selling at $0.48 at press time, down 5.5% in the final 24 hours, CoinGecko information reveals.
