- SOL price rose to above $187 to see over $4 million short positions liquidated.
- Poodlana, the FashionFi meme coin, accelerated its presale as the sector surged amid US politics and bullish crypto predictions.
- POODL surpassed the $3 million mark on July 27, just 10 days after the presale launch.
The cryptocurrency market has witnessed over $63 million in liquidations over the past 24 hours. Data shows most of these, nearly $45 million, are in short positions.
Solana (SOL) surging above $187 has seen over $4 million in bearish bets liquidated. Meanwhile, Poodlana has soared to over $3 million in presale as Asia drives investor interest.
Solana short liquidations hit $4 million as SOL surges
While Coinglass data shows the total crypto liquidations had declined 67% within the above timeframe, the market still saw a notable amount of bearish bets.
Solana liquidations reached a total of $4.95 million at the time of writing, with the forced exits happening as SOL price climbed more than 5% to touch highs of $188.
SolanaFloor shared the liquidation data on X, showing that the largest bearish bet on SOL to be liquidated was $560k. This happened as Solana’s price crossed the $187 mark.
🚨 LATEST: Over $4 million liquidated in SHORTS position as $SOL hits $187.
The single largest short Liquidation was $560K at $186 pic.twitter.com/8DaGNYIun5
— SolanaFloor (@SolanaFloor) July 27, 2024
Meanwhile, Bitcoin had over $16 million in shorts liquidated and Ethereum accounted for about $7 million of the short positions as both coins moved above key price levels. BTC traded above $68,300 while ETH hit highs above $3,290.
Solana rose as VanEck reported that a large number of people at its booth at the Bitcoin 2024 conference asked about Solana.
VanEck is one of the ETF issuers to file for a Solana spot ETF with the US Securities and Exchange Commission. Analysts say the approval for SOL ETFs in the US could come in 2025.
Wen, MAGA tokens jump as meme coins rise
Solana meme coins have experienced a 10% bump in the sector’s market cap as meme coins jump amid fresh optimism in the crypto market.
Although Bitcoin, Ethereum and Solana are in the limelight as whales buy BTC, ETH and SOL, a lot of interest in meme coins has several tokens trending.
Wen has spiked 20%, while PolitiFi token MAGA is up 16% at the time of writing. Donald Trump will speak…