Solana’s Rollercoaster Institutional Wins vs Social Media Chaos
First off we have to talk about the big wins. Visa and Meta are doubling down on Solana for stablecoin settlements and creator tools. This isn't just hype anymore it’s real world utility. When giants like that choose a network it usually means they trust the tech to handle the load. But on the flip side we just dealt with that bizarre Roaring Kitty X account hack. It flooded the network with sketchy memecoin promos and caused a lot of FOMO driven volatility. Mix that with the new SIMD-0266 upgrade that’s currently rolling out to make things even faster and you’ve got a market that doesn't know whether to pump or dump.
Here is a quick look at what the data is telling us right now.
According to the overview SOL is holding its ground around $90 with a massive jump in trading volume. Even with the price shaking a bit the interest is definitely still there.
Check out the funding rates. They’ve been dipping into the negative which is actually pretty interesting for traders. Usually when people are betting against the coin (shorting) while the price stays stable it sets the stage for a short squeeze that can send us flying back up.
The sentiment data shows that the smart money is still leaning bullish. The Long/Short ratio on big exchanges like Binance is staying above 2.0 which means most people are buying the dip rather than panic selling.
We did see some heavy liquidations recently especially for the Long positions that got caught in the volatility. But the market seems to be finding a floor now and stabilizing.
So what’s the move. Honestly Solana is proving to be a beast this cycle. Between the institutional backing and the tech upgrades the foundation looks solid even if the social media drama tries to shake us off. Keep an eye on that $100 mark. If we flip that into support it’s game on.
What are you guys doing with your SOL right now. Are you holding through the noise or looking for an exit.
"Keep trading and stay profitable:)"
Source:
Visa
Solana
@0xSweep
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This article was originally researched and written by me. To maintain transparency across Web3 platforms, please note that a version of this post was first published on my Hive blog (@rizqimaruf). You can find the original Hive post here: https://inleo.io/@rizqimaruf/solana-getting-shaken-up-is-it-still-a-strong-hold-or-time-to-let-go-h1x
