Solana Longs Take Bigger Hit as Short Squeeze Reverses

Solana's short squeeze, which wiped out over $33 million in short positions earlier this week, has reversed by the time the day was done. Longs took a bigger hit as SOL climbed toward $95.

A series of liquidations on Solana ran to $52.15 million against $21.08 million in shorts, according to CoinGlass, close to 2.5 times the short side. This was after a day that saw over $33 million worth of SOL short positions liquidated as it approached $95.

The largest single SOL liquidation was $1 million at $94.30, but this figure grew to $4.6 million during a concentrated stretch between 10:30 and 11:30 am UTC. The day's combined total, long and short liquidations together, reached $112.8 million on Solana alone, more than three times the platform's own seven-day average.