- Node 11.2 advances Dijkstra integration, while major Leios features remain pending.
- ADA fell 6.7% despite upgrade progress and positive funding rates.
- A liquidity zone near $0.19 could trigger a short squeeze.
Cardano has a major network upgrade approaching, yet traders remain cautious. Node 11.2 is expected to reach mainnet on November 8 and introduces several Dijkstra-related features. Under normal conditions, such progress could support price growth. This time, the market reacted differently. ADA fell sharply during the past day, leaving many investors wondering why a network advancing toward an important milestone failed to generate positive price momentum.
Node 11.2 Moves Cardano Closer to Dijkstra
Cardano recently released Node 11.2 as a pre-release version. Developers have advised operators against using the build on mainnet for now. A finalized release, likely labeled 11.2.1, could arrive by the weekend. One of the most important changes involves a new configuration envelope format. Older node versions cannot read those files. As a result, network operators will need to upgrade to remain compatible.
The update also improves node functionality. API access can now run through a network address rather than remaining local. New mempool inspection tools add more flexibility for developers and operators. Dijkstra integration has also moved forward. The command-line interface now supports sub-transactions.
Developers can submit Dijkstra transactions through the API as well. Some highly anticipated features remain in development. Leios support appears only as groundwork in Node 11.2 and stays disabled by default. Full implementation is expected in Node 11.3. Fair Min Fees will also arrive later.
ADA Price Drops Despite Positive Development
Network progress alone does not always move markets higher. ADA dropped roughly 6.7% within a single day. Price action fell from around $0.199 on November 5 to nearly $0.178 before finding support. Buyers stepped in and pushed ADA back toward $0.186. Even so, the token remained well below previous levels. Technical indicators reflected uncertainty. The Relative Strength Index sat near 48.3, suggesting neither buyers nor sellers held complete control.
Derivatives data showed declining market participation. Open Interest fell from approximately $197 million to $181 million during the decline. Such movement often signals traders reducing exposure during periods of volatility. Still, not every signal looked bearish. Funding rates remained positive at 0.0057%. That reading suggested many long traders continued holding bullish positions despite the pullback.
Perhaps the most interesting development sits just above current prices. Liquidation data revealed a large concentration of positions between $0.188 and $0.19. Markets frequently gravitate toward liquidity zones where many positions could face liquidation. If ADA climbs into that range, a short squeeze could follow. Forced liquidations might create additional buying pressure and accelerate upward movement.
