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InvestmentsDerivatives data suggests Solana has reached a short-term top By Cointelegraph

Derivatives data suggests Solana has reached a short-term top By Cointelegraph


Derivatives data suggests Solana has reached a short-term top

Solana (SOL) reached a $216 all-time excessive on Sept. 9 after rallying 508% since Aug. The bull run brought about some analysts to venture a $500 goal which might translate to a $150 billion market capitalization.

It is price noting that in SOL’s rally, the community’s common transaction price had surpassed $40. Surging curiosity within the NFT market accelerated traders’ transition to Solana, which was boosted by FTX’s NFT market launch on Sept. 6.

Solana, Avalanche, and Cosmos value at Binance. Source: TradingView
Solana futures mixture open curiosity. Source: Bybt.com
Solana perpetual futures 8-hour funding charge. Source: Bybt.com