Crowded longs on $SOL while it sits under $100?
Per TokenPost's 11:00 UTC snapshot, SOL perpetual open interest is $834.3 million, up 3.19% in 24 hours, with mark price at $95.56.
Long accounts are 75.1%, the highest share among the five majors checked. Funding is 0.0056% per 8 hours (about 6.1% annualized).
My take: rising open interest with a lopsided long crowd means a sharp move either way can shake out leverage fast. $BTC at $77,376 and 72.6% longs shows the same lean.
Do you think crowded longs get squeezed first, or does $SOL reclaim $100 from here?
#Solana #OpenInterest #Futures
Not financial advice.
Per TokenPost's 11:00 UTC snapshot, SOL perpetual open interest is $834.3 million, up 3.19% in 24 hours, with mark price at $95.56.
Long accounts are 75.1%, the highest share among the five majors checked. Funding is 0.0056% per 8 hours (about 6.1% annualized).
My take: rising open interest with a lopsided long crowd means a sharp move either way can shake out leverage fast. $BTC at $77,376 and 72.6% longs shows the same lean.
Do you think crowded longs get squeezed first, or does $SOL reclaim $100 from here?
#Solana #OpenInterest #Futures
Not financial advice.