Solana surges past $116, liquidating over $18M in short positions
- —SOL rose to $116.33, adding 7.5% in 24 hours
- —Over $18 million in SOL short positions were liquidated
- —Futures open interest climbed 18.44% to $7.01 billion
- —Futures volume hit $12.14 billion versus $1.49 billion spot — 8:1 ratio
Why it matters: A 96% skew toward short liquidations signals an over-leveraged market vulnerable to sharp reversals in either direction.
Source: Crypto Briefing