According to the latest data from Coinglass, traders are heavily favoring long positions for Solana, indicating growing optimism in the market.
The long/short ratio for SOL/USDT on Binance is 3.07, meaning that for every trader betting on a decline, there are more than three traders betting on a price increase. The ratio is even higher on OKX, reaching 3.62.
This marks growing confidence among both retail and institutional participants. Based on accounts, the long/short ratio is 2.89, and based on positions, it stands at 1.96.
Overall, the 24-hour long/short ratio is 0.95, showing a near-parity between long and short positions. However, exchange-specific data paints a more bullish picture for Solana.
Meanwhile, trading volume in the derivatives market has jumped 35%, reaching $13.87 billion. At the same time, open interest has dropped 7.34%,…
