- Solana bounces back, surging 8% after a brief drop, proving its resilience.
- Investors face losses as $10.32 million in long positions and $8.43 million in short positions are liquidated due to SOL’s rise.
- SOL remains the fifth-largest crypto, gaining $4 billion in market cap in 24 hours.
Solana (SOL) has once again astounded the cryptocurrency sphere with a powerful resurgence, catapulting over 8% to reclaim its coveted $100 milestone. This feat comes on the heels of a brief downturn where the token experienced a 16.3% drop, plummeting from its heights of $121.44 to $97.33.
Read CRYPTONEWSLAND on
google news
Despite concerns and premature speculations about its demise, Solana‘s resilience emerged triumphant, swiftly recapturing its triple-digit status and surging a noteworthy $7 beyond the psychological barrier of $100. The crypto roller coaster didn’t spare either side of the market, witnessing significant losses for both bullish enthusiasts and bearish investors.
Long positions took a substantial hit, facing liquidation to the tune of $10.32 million. Meanwhile, short positions also felt the squeeze, with $8.43 million worth being liquidated amid SOL’s rally.
Amid this tumultuous ride, Solana retains its stronghold as the fifth-largest cryptocurrency by market capitalization, currently standing tall at an impressive $46.21 billion. The surge added an astonishing $4 billion to its market cap within a mere 24-hour span, reigniting discussions and speculations regarding its sustainability and potential for the upcoming year.
This remarkable comeback and subsequent surge have left market participants in awe. As the crypto world braces for the turn of the year, all eyes remain fixated on Solana, waiting in anticipation to witness whether it can continue this extraordinary journey and defy market odds.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
