Bottom line: SOL is down nearly 4%, with $38.19 million in liquidations over 24 hours, 94% of them on the long side. But open interest is down only 2.6%, so leverage hasn’t fully unwound.
SOL is around $102. Perpetuals on Binance and OKX are both down about 3.9%, with no unusual price move on any single exchange. Long liquidations totaled $35.95 million, compared with just $2.24 million for shorts. Total liquidations over the past four hours fell to $1.77 million, indicating the sharp sell-off mainly happened earlier.
Total open interest across all platforms is about $4.82 billion. Binance is up 5.01% and OKX up 1.95%, while Hyperliquid is down 8.29%. Positions aren’t being unwound across the board; they’re shifting between platforms. Funding rates are positive: longs are paying shorts on both Binance and OKX.
$SOL $BTC
Do you think SOL longs will continue to deleverage?
View in real time: https://www.coinboss.com/currencies/SOL