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Solana Short Squeeze Wipes Out Over $33M as Price Surges

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BNB SOL
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Solana's price surge has led to a massive short squeeze, wiping out over $33.8 million in short positions on Binance and other exchanges like OKX and Bybit.

The sudden rally saw SOL's price jump nearly 6% from around $75 a week ago to over $95, inflicting significant losses on bearish leveraged traders.

The concentrated short liquidity between $80 and $92 triggered cascading liquidations, driving the price higher and reinforcing the rally.

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