Odaily News As the meme coin scandal continues to grow and market sentiment retreats, traders are increasingly preparing for a drop in SOL. According to data service Coinalyze, on February 17, the ratio of SOL long to short positions on cryptocurrency futures exchanges fell from 4 to 2.5, meaning that the entire market tends to be bearish on SOL.
Anonymous crypto KOL Tyler Durden posted on X: “The market has decided to vent its anger on Solana.” Durden cited data from Binance’s perpetual futures trading platform, saying that Binance’s SOL short-to-long position ratio has risen to 4:1, indicating that there are too many bearish bets. (Cointelegraph)