In the last 24 hours, the cryptocurrency market has experienced liquidations totaling more than $63 million, with around $45 million coming from short positions. The price of Solana (SOL) rose above $187, resulting in the liquidation of around $4 million worth of negative positions.
Poodlana experienced a significant increase in presale value, surpassing $3 million, primarily driven by investor demand in Asia. Although there was a substantial decrease of 67% in overall crypto liquidations, the market nonetheless witnessed a noteworthy number of pessimistic wagers.
The liquidations on the Solana platform amounted to $4.95 million, as users were compelled to liquidate their positions due to the SOL price surging by more than 5% and reaching a peak of $188.
Bitcoin experienced the liquidation of more than $16 million worth of short positions, while Ethereum contributed approximately $7 million to the total short positions.
VanEck, an ETF provider that has submitted an application for a Solana spot ETF with the US Securities and Exchange Commission, is anticipated to obtain approval for SOL ETFs in the United States by 2025.
Recenlty, a crypto analyst, Ali Martinez foresees a substantial surge in the value of Solana (SOL), relying on past price trends and technical patterns. Furthermore, he believes that SOL has the potential to surpass $1,000.
