The SOL price climbed above $187 and more than $4 million of short positions were liquidated.
FashionFi's Poodlana meme coin accelerated its presale as the sector surged amid a bullish outlook on U. S. politics and cryptocurrencies.
POODL crossed the $3 million mark on July 27, just 10 days after the presale began.
Over the past 24 hours, more than $63 million has been liquidated in the cryptocurrency market, with data showing that most of that, nearly $45 million, came from short positions.
#Solana (SOL), which climbed above $187, has liquidated more than $4 million of bearish bets. At the same time, Poodlana (SOL) surpassed $3 million in pre-sale value as investor interest in Asia increased.
Data from Coinglass showed that the total number of cryptocurrency liquidations decreased by 67% during the period, but bearish bets were still prominent in the market.
Solana liquidation reached $4.95 million at the time of writing. The forced exit occurred when the price of SOL rose more than 5% to a high of $BTC SolanaFloor shared the liquidation data on Site X, revealing that the largest bearish bet against SOL was liquidated at $560,000. This happened when the price of Solana exceeded $BTC When the price of $SOL reached $187, more than $4 million in short positions were liquidated.
At the same time, more than $16 million in short positions were liquidated in #bitcoin and nearly $7 million in #BTC , as both coins surpassed key price levels, with #BTC trading above $68,300 and #BTC hitting a high of $BTC Solana's price rose after VanEck reported that many people were asking about Solana at the company's booth at the Bitcoin 2024 conference.
VanEck was one of the ETF issuers that filed an application for a Solana spot ETF with the U. S. Securities and Exchange Commission. Analysts believe that authorization to issue Solana-based ETFs in the U. S. may be granted in 2025.
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