$SOL
🚨 SOL Sees 143% Liquidation As Solana Price Takes Plunge 🚨
Solana (SOL) has witnessed severe liquidation in the last 24 hours as market volatility has affected the Solana price performance. Investors were stunned and lost funds after betting on a bullish performance from SOL. According to CoinGlass data, a total of $15.63 million was lost in the latest Solana price plunge as those betting long on SOL suffered more losses.
A total of $13.27 million was wiped out within the time frame as the Solana dropped drastically. During this period, the Solana price suffered a 5.05% decline in the crypto market. This happened after SOL faced resistance at $172 and pulled back despite anticipating a bullish rally. The poor Solana price performance created a liquidation imbalance of 143% for traders.
Short-position SOL traders were not as adversely affected as long-position traders. However, following Solana’s market rejection, a total of $2.36 million was wiped from these investors. At the time of writing, the Solana price was changing hands at $171.84. The poor price performance has led to a significant loss of market participants’ confidence.