Solana is currently the only top 10 cryptocurrency with a negative funding rate, indicating a possibility of traders increasing shorts on the coin.
Despite high interest in futures, Solana has experienced a decrease in both daily active addresses and price, suggesting a weakening bullish momentum.
Traders are advised to proceed with caution due to the weakening bullish momentum revealed by technical indicators in the Solana market.
Glassnode's on-chain data reveals that Solana's negative funding rate of -0.0002% is a notable signal in the market, sparking discussions about potential price drops or risk mitigation strategies among traders.