The market for cryptocurrencies is known for its ups and downs, and so is Solana (SOL). Data is in from Coinglass on the SOL/USDT liquidation trends, and we’re utilizing them to paint a picture of the potential next moves for this market—in either direction. What we see collectively and individually for the liquidation amounts is serving as the basis for our trade setups on Solana for the immediate future. Recently, Binance has seen a surge in trading for SOL, with a concomitant drop in open interest as traders have been closing positions. This is the latest signal from the market about the kind of revaluation they’re doing on the asset. More long positions have been liquidated than short ones, suggesting that the price of SOL has been under some amount of freshly applied downward pressure. This sol/usdt liquidation data from coinglass is interesting especially the one focusing on binance The truth is that SOL is experiencing increased trading activity on Binance Open interest is decreasing, which means traders are closing positions. More long positions were… pic.twitter.com/ScoPHWstVc — Stalkchain (@StalkHQ) March 17, 2025 A Bearish Sentiment Takes Hold Right now, the funding rate—a vital metric for gauging market sentiment—is negative. More traders are shorting SOL than longing it, which definitely isn’t a good sign for SOL’s short-term trajectory. Being short means you’re betting against an asset and expect its price to drop. So, if traders are largely taking this position, it means they’re expecting SOL to drop further in price. This trend is especially intriguing because it hints at a belief among traders that SOL’s price is due for a retracement. The data carries a lot of weight. For one thing, they’re showing us a market that’s freshly restructured and repositioned. Increased trading activity, yes, but decreasing open interest? That’s not what the market makers want to see. And why is the funding rate now negative when it’s been mostly positive or neutral for years? Increased shorting does not make for a healthy market. The market is still changing, and it will be necessary to see these trends and adjust expectations accordingly. Traders would be wise to stay informed on Solana price movement and to adapt to the changing market sentiment. To sum up, the Coinglass data gives us an interesting look at the market dynamics involving SOL. Traders and investors in the intricate world of cryptocurrencies would do well to keep an eye on the changing trends and sentiment in this fast-moving space. The more that people who are active in the various crypto markets can stay on top of what is happening within those markets, the clearer will be the picture that they can see and the better informed will be the decisions that they can make. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
