Crypto
Solana Surges Past $117 as Short Liquidations Exceed $18 Million
Solana's price surged to its highest point since January, reaching $117.23 on September 21 as Bitcoin broke above $86,000 for the first time in months.
The SOL token rose by 7.37% in 24 hours to $116.68, outperforming the wider crypto market which grew by 4.82% to $2.88 trillion in the same period.
Over $18 million in short positions were liquidated as Solana's price climbed above $116, a significant indicator of the token's bullish momentum.
The Solana derivatives market saw increased activity with the volume of trade growing by 88.78% to 13.28 billion and open interest increasing by 10% to $7.33 billion.