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TronWeekly

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Is Solana (SOL) Facing Early Bearish Pressure? Negative Funding Rate Sparks Debate

  • 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.

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