Solana Investors Believe in Growth

Coinglass data shows that the Long/Short ratio for Solana on the hourly timeframe has reached 1.17. Values above one typically indicate that long traders (buyers) dominate the cryptocurrency market, betting on price increases.

Currently, 54% of Solana traders hold long positions, while 46.17% expect a drop below $255. This suggests that a bullish sentiment prevails among market participants.

Furthermore, these traders' positions may turn profitable due to the increase in transaction speed on the Solana network — that is, the number of transactions processed on the blockchain every second.

The rise in this metric indicates that users are showing more interest and activity. If this trend continues, SOL will have every chance to set a new all-time high (ATH) once again.