Solana Soars to New Heights as Market Structure Remains Bullish

Solana's price has surged to its January levels, reaching $110 before retracing to a daily low of $105. This brief pump was driven by Charles Schwab's plans to incorporate Solana into their platform.

The sudden rise in prices led to a wave of liquidations, with over $30.35 million worth of short positions being closed and $8.9 million worth of longs being liquidated. Despite this volatility, traders have continued to deploy capital into new positions.

Solana's Open Interest rose by 10.4% to $7.54 billion while the derivatives volume surged by 69% to $17.27 billion. This increase in participation suggests steady capital inflows and a strong market structure.