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      Solana's Price Surge Triggers $18 Million in Short Liquidations

      Solana's SOL token has surged past $116 this week, resulting in the liquidation of over $18 million in short positions. This price movement follows a rally that began when SOL broke through the $110 resistance level for the first time in seven months. The surge has been characterized by a significant short squeeze, where traders who had bet against the asset were forced to buy back at higher prices, further driving the price upward.

      In a 24-hour period during the initial push to $112, approximately $36.72 million in SOL short positions were liquidated, representing about 96% of total liquidations, which amounted to $38.21 million. By September 21, SOL was trading at $116.33, reflecting a 7.5% gain within 24 hours after an earlier increase of around 10.75% to 11% on September 18-19.

      The futures market has also seen notable activity, with open interest for Solana rising by 18.44% to approximately $7.01 billion. In one session, SOL futures trading volume reached $12.14 billion, significantly outpacing spot volume of $1.49 billion by more than eight times. This concentration of short liquidations indicates that many traders had anticipated a price drop and were unprepared for the recent breakout, highlighting the volatility and leverage present in the current market environment.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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