Solana Perp OI Breaks $7 Billion, But Funding Remains Sideways
Data shows the Solana perpetual futures Open Interest has surged past $7 billion, a sign that speculative participation in SOL is on the rise. Solana Perp Open Interest Has Spiked Recently As pointed out by on-chain analytics firm Glassnode in a new post on X, the Solana Open Interest has climbed up as the SOL […]
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Bitcoin perpetual traders seem to be the only ones unmoved by the digital asset’s recent breakout. BTC which has had a tremendous rally during the first half of the week had been able to break out of the slump of the low $40,000s and moved on an upward trajectory above $47,500. However, perp traders have not reacted much to it given the state of the funding rates. Funding Rates Remain Flat The bitcoin perpetual traders are not reacting to the recent upside as expected. This is evidenced in the fact that the perp basis is still sitting at or even below neutral funding rates, marking the....
Recent data has shown that Ethereum briefly fell behind Solana in a major metric. This has raised questions about what it could mean for the altcoin season, since ETH usually leads the way during that period. Ethereum Falls Behind Solana In Perp Volume DeFiLlama data shows that Ethereum fell behind Solana in perp volume by […]
PERP, the native token of Perpetual Protocol, is one of the top-performing assets, looking at price action in the past 48 hours. As of September 6, the token is changing hands at $0.78, adding roughly 90% from August 2023 highs. Amid this stellar performance, reports reveal that the Perpetual Protocol Foundation has transferred 903,000 PERP worth approximately $691,000 to Binance, the world’s largest cryptocurrency exchange by trading volumes and client count. PERP Ripping Higher After Dumping In Q2 2023 According to Lookonchain, a blockchain analytic platform, the wallet associated....
Bitcoin funding rates have been less than encouraging even when the digital asset was on an uptrend. This indicated that perp traders were not actually feeling the market or the recent recovery enough to do anything. Leading to less money flowing into the market. This was the case last week and it seems this has […]
After reclaiming crucial levels, Solana (SOL) has been moving sideways within a key price range, with its next direction yet to be determined. However, some analysts suggest a breakout could kick-start a new bullish rally in the coming months. Related Reading: Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details Solana Moves Within Key Range Amid its 15% biweekly recovery, Solana, one of the leading altcoins of this cycle, has attempted to reclaim a crucial resistance after recovering the $140 support for the first time since late February. Earlier this month,....