Investors who thought Solana (SOL) would rise led to a record high in the futures markets.
The rise in the cryptocurrency market in recent weeks was led by Solana and the cryptocurrency projects in its ecosystem. This bullish appetite pushes investors to take long positions on Solana. all time record broken.
Futures data on Solana since the beginning of February $700 million increasing above and reaching its all-time high (ATH) to $1.7 billion reached. Only February 8 since date $400 million position added. The majority of these positions were made up of long directional transactions.
The previous record futures level for Solana was set in December last year. $1.4 billion was seen with. However, as is often seen in the market that is swollen with futures transactions, there were serious declines in December. “Long squeezeIn this situation, called “”, investors who saw the decline closed positions at a loss, bringing with it a further decline and a 30% drop He had created.
According to CoinGecko data, in the last 24 hours 1.1% up exhibiting SOL, at the time of writing from $117 is being traded.