Solana

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Solana’s price has reached its 18-month highs, while short-position holders dominate its total open interest.&nbsp; 
Solana (<a href="https://crypto.news/price/solana/">SOL</a>) is up by 14% in the past 24 hours and is trading at $67.5 at the time of writing. This price point was last seen in mid-May 2022. Following the rally, the asset’s market cap rose to $28.3 billion, holding its position as the sixth-largest cryptocurrency.&nbsp; 
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 <img decoding="async" loading="lazy" width="3840" height="1300" src="https://crypto.news/app/uploads/2023/11/Solana-SOL-12.12.50-16-Nov-2023.png" alt="Solana reaches 18-month highs amid dominating short positions - 24" class="wp-image-14216392">
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 SOL price, Binance funding rate, open interest and social volume – Nov. 16 | Source: <a href="https://app.santiment.net/charts/FLx7wYZ6__sCl" target="_blank" rel="noopener">Santiment</a>
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Solana’s 24-hour trading volume surged by 35%, reaching $4.16 billion. 
 You might also like: <a href="https://crypto.news/dydx-chains-beta-trading-launch-powers-67-price-surge/"> dYdX Chain’s beta trading launch powers 67% price surge </a> 
According to data provided by the market intelligence platform Santiment, Solana’s total OI hiked by 12% on Nov. 15. It rose from $833.9 million on Nov. 14 to $938 million yesterday.&nbsp; 
Moreover, SOL’s <a href="https://crypto.news/tag/binance/" data-type="link" data-id="https://crypto.news/tag/binance/">Binance</a> funding rate with USDT reached the 0.02% mark, suggesting the dominance of short-position holders. However, the exact amounts of short and long trades are still unclear. 
Per Santiment, short SOL traders also dominate the <a href="https://crypto.news/tag/dydx/" data-type="link" data-id="https://crypto.news/tag/dydx/">dYdX</a> decentralized exchange with a 0.006% rate. 
Following the hike, Solana’s social volume witnessed a 98% surge in the past 24 hours, according to Santiment’s data. Per the Market intelligence platform, the activity mainly comes from Twitter and Telegram. 
According to a crypto.news report on Nov. 13, Solana <a href="https://crypto.news/solana-dominates-crypto-conversations-with-42-price-jump/">dominated the crypto conversations</a> as SOL’s price saw a 42% surge that week.&nbsp; 
 Read more: <a href="https://crypto.news/despite-crash-crypto-was-best-performing-asset-of-2023/"> Despite crash, crypto was best performing asset of 2023 </a>

Solana reaches 18-month highs amid dominating short positions

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