Can Solana rise to $140? Is it worth buying?
▫️Solana is trading near $130, forming a rising channel pattern
▫️CME launches futures on SOL as institutional demand continues to grow
▫️The trading volume of SOL derivatives has increased by 22% on exchanges
Despite the bullish trends, the price of Solana remains significantly below its January peak of $293. Since then, it has decreased by 6.2% and reached the current value of $130, while the markets are experiencing overall volatility.
However, according to Coinglass, the activity in derivatives trading shows a different picture: the volume of SOL futures on centralized exchanges has increased by 22%, indicating that traders are actively positioning themselves for future market movements.