Bitcoin
Bitcoin (BTC)
$67,987.00 1.14454
Bitcoin price
Ethereum
Ethereum (ETH)
$3,536.98 0.62288
Ethereum price
BNB
BNB (BNB)
$601.62 0.80027
BNB price
Solana
Solana (SOL)
$182.72 5.01641
Solana price
XRP
XRP (XRP)
$0.5930510 0.11076
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 0.05165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 1.309
Pepe price
Bonk
Bonk (BONK)
$0.0000316 2.46437
Bonk price
Bitcoin
Bitcoin (BTC)
$67,987.00 1.14454
Bitcoin price
Ethereum
Ethereum (ETH)
$3,536.98 0.62288
Ethereum price
BNB
BNB (BNB)
$601.62 0.80027
BNB price
Solana
Solana (SOL)
$182.72 5.01641
Solana price
XRP
XRP (XRP)
$0.5930510 0.11076
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 0.05165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 1.309
Pepe price
Bonk
Bonk (BONK)
$0.0000316 2.46437
Bonk price
Bitcoin
Bitcoin (BTC)
$67,987.00 1.14454
Bitcoin price
Ethereum
Ethereum (ETH)
$3,536.98 0.62288
Ethereum price
BNB
BNB (BNB)
$601.62 0.80027
BNB price
Solana
Solana (SOL)
$182.72 5.01641
Solana price
XRP
XRP (XRP)
$0.5930510 0.11076
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 0.05165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 1.309
Pepe price
Bonk
Bonk (BONK)
$0.0000316 2.46437
Bonk price
Bitcoin
Bitcoin (BTC)
$67,987.00 1.14454
Bitcoin price
Ethereum
Ethereum (ETH)
$3,536.98 0.62288
Ethereum price
BNB
BNB (BNB)
$601.62 0.80027
BNB price
Solana
Solana (SOL)
$182.72 5.01641
Solana price
XRP
XRP (XRP)
$0.5930510 0.11076
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000180 0.05165
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 1.309
Pepe price
Bonk
Bonk (BONK)
$0.0000316 2.46437
Bonk price

Solana reaches 18-month highs amid dominating short positions

solana-reaches-18-month-highs-amid-dominating-short-positions
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Markets
Solana reaches 18-month highs amid dominating short positions

Solana’s price has reached its 18-month highs, while short-position holders dominate its total open interest. 

Solana (SOL) is up by 14% in the past 24 hours and is trading at $67.5 at the time of writing. This price point was last seen in mid-May 2022. Following the rally, the asset’s market cap rose to $28.3 billion, holding its position as the sixth-largest cryptocurrency. 

Solana reaches 18-month highs amid dominating short positions - 1
SOL price, Binance funding rate, open interest and social volume – Nov. 16 | Source: Santiment

Solana’s 24-hour trading volume surged by 35%, reaching $4.16 billion.

According to data provided by the market intelligence platform Santiment, Solana’s total OI hiked by 12% on Nov. 15. It rose from $833.9 million on Nov. 14 to $938 million yesterday. 

Moreover, SOL’s Binance funding rate with USDT reached the 0.02% mark, suggesting the dominance of short-position holders. However, the exact amounts of short and long trades are still unclear.

Per Santiment, short SOL traders also dominate the dYdX decentralized exchange with a 0.006% rate.

Following the hike, Solana’s social volume witnessed a 98% surge in the past 24 hours, according to Santiment’s data. Per the Market intelligence platform, the activity mainly comes from Twitter and Telegram.

According to a crypto.news report on Nov. 13, Solana dominated the crypto conversations as SOL’s price saw a 42% surge that week.