Unexpected development in Solana: $125 million threat!

Solana is down 5% on fud news about FTX, with current positions showing $125 million at stake

SOL decline is a 40 percent change in open interest. According to data from CoinGlass, this statistic has dropped to $1.78 billion in the last 30 days. This development shows that investors are not confident in taking positions on the pair. However, the Solana's ability to quickly recover from its recent declines, which as of now holds over a hundred million dollars in risk in short positions.

Solana (SOL) confused with various statistics!

Over the past 30 days, the price of SOL has fallen and recovered in a short period of time.On April 19, Solana saw a 5% fall before it could rise to $157, just before its Bitcoin halving on April 20. Similarly, if the SOL rises 5% to $157 again, it will lead to $125 million in liquidations in short positions.

Just a few days before Solana's fall on May 7, crypto influencer CryptoAce told followers of X that the Solana price was in the resistance zone and that a decline towards the $142.50 level was likely.

This controversy could be an indication of positive news that Solana needs for a price increase. On May 7, Solana's total economic value of $2.8 million was close to Ethereum's total economic value of $3.1 million.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.