#StripeStablecoinAccounts Short positions in Solana rise after memecoin scandals

The ratio of long to short positions in SOL in futures markets is leaning downwards as losses in memecoins increase.

Traders are increasingly positioning themselves for a drop in Solana's native coin (SOL), as sentiment collapses amid growing memecoin scandals on the network, according to data reviewed by Cointelegraph.

According to data service Coinalyze, the ratio of long to short positions of SOL on cryptocurrency futures exchanges fell from 4 to 2.5 on February 17, indicating an overall market tilt downwards in SOL.

"The market has decided that it is angry with Solana," said Tyler Durden, a pseudonymous cryptocurrency influencer, in a post on February 17 on platform X.