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Sol (Teller), Solana’s original cryptocurrency was strong at the level of $ 158 on Monday. The subsequent decrease to $ 143 by Wednesday reached a loss of 14 % over a period of seven days. Traders are now concerned that the chances of restoring the level of $ 200 have decreased, as the demand for the Sol sites that were used in the last twice the last prices increased.
As of Wednesday, Open attention In Sol futures amounted to 45.7 million Sol, an increase of 19 % over the previous month. While every (buyer) (buyer) coincides with a short seller (seller), the intensity of the leverage on each side can vary. Its value is now estimated at $ 6.7 billion, which makes it important to evaluate the side that was more aggressive.
Will Sol ETF approval possibilities lead to price advantages?
Funding rates On permanent future contracts as a major measure of market morale. In neutral conditions, the annual financing rate should decrease between 5 % and 15 %, indicating that long positions are pushing in addition to maintaining open trading. When the markets turn down, this rate tends to decline below this range.
On Wednesday, the Sol financing rate decreased to 0 %, indicating an increasing appetite for Haboodiya positions. More importantly, this indicator has failed to survive than the annual threshold by 15 % over the past three months, which reflects a wider shortage of bulls. Even the gathering to 185 dollars in mid -May failed to operate the renewed interest in the similar length.
Although Longs with a recall leverage is strictly required for Sol to restore a brand of $ 200, a significant change in the investor visualization is crucial. In the absence of renewable confidence, the market may continue to face the pressure pressure. Sol performance remains closely linked to the network activity on Solana, which has been stolen over the past three months after a record height in January.
The total value (TVL) on the Solana network remained fixed at about 10 billion dollars, while the weekly revenues of decentralized applications (DAPS) decreased to less than $ 40 million. For comparison, this DAPS produced more than $ 100 million a week between mid -November and mid -February.
The last Sol decline also reflects the excessive excitement that is fueled by Memecoin’s activity, especially after the launch Trump official ((TrumpA symbol of Solana. This caught from merchants from guarding, as well as the previous efforts made by the companies that are in line with US President Donald Trump Big to a large extent ethereum.
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the Possible approval From the Sol Sop Sport Traved (ETF) by the US Securities and Stock Exchange Committee is seen as the most important short -term catalyst for the distinctive symbol. However, analysts argue that Sol will benefit more than long -term growth of symbolic securities on Solana Blockchain, according to Cantor Fitzgerland’s Research of shares a report.
According to analysts, Solana “is better than Ethereum via each scale”, and they expect to adopt an increasing number of companies Sol as the asset of the Treasury Department. It indicates the growth of the strong developer and more operational efficiency compared to the ecosystem of the most sophisticated layer of ETHEREUM.
Although the $ 200 price goal may appear out of reach Details dataIt can reflect the increasing institutional interests and the adoption of the current market morale.
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