Solana's Active Addresses Drop to 1.44M as SOL Rebounds to $141

Over the last 48 hours, the crypto market has experienced significant volatility, with Solana (SOL) and other altcoins being particularly affected. This instability has triggered substantial liquidations, highlighting the ongoing battle between buyers and sellers. Recent analysis from Coinglass reveals that Solana’s market endured liquidations exceeding $2.16 million, with a staggering $1.36 million attributed to […]

The post Solana’s Active Addresses Drop to 1.44M as SOL Rebounds to $141 appeared first on Coin Edition.

Solana's Active Addresses Drop to 1.44M as SOL Rebounds to $141

  • Solana sees $2.162M in liquidations, with $1.36M from shorts near $141.
  • Active addresses for SOL drop from 1.68M to 1.44M, signaling investor caution.
  • SOL’s recovery to $141 could break resistance at $153 and $161 if optimism grows.

Over the last 48 hours, the crypto market has experienced significant volatility, with Solana (SOL) and other altcoins being particularly affected. This instability has triggered substantial liquidations, highlighting the ongoing battle between buyers and sellers.

Recent analysis from Coinglass reveals that Solana’s market endured liquidations exceeding $2.16 million, with a staggering $1.36 million attributed to short positions near the $141 level. This indicates that many traders, anticipating a price dip, were caught off guard by the swift rise to an intraday high of $143.68. Meanwhile, SOL’s 24-hour trading volume surged by 9.12% to $3.17 billion, reflecting increased market activity.

Source: CoinGlass

This unexpected surge forced short sellers to liquidate their positions, further fueling market volatility. Amid this turbulence, Solana’s on-chain metrics reveal a concerning trend: a steady decline in the number of…

The post Solana’s Active Addresses Drop to 1.44M as SOL Rebounds to $141 appeared first on Coin Edition.