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You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/solana-faces-significant-liquidations-amid-market-volatility" rel="noopener noreferrer nofollow">Solana Faces Significant Liquidations Amid Market Volatility</a> 
Recent volatility in <a href="https://en.bitcoinhaber.net/solanas-rise-as-a-strong-competitor-to-ethereum-and-the-excitement-around-saga-phones" rel="noopener noreferrer nofollow">Solana</a>‘s price has led to significant liquidations in the futures markets of centralized exchanges, with over $6 million in long positions liquidated, contributing to a total of over $7 million in liquidations. According to CoinGlass, the crypto market saw over $88 million in long positions liquidated in the last 24 hours, with total liquidations reaching $126 million across various exchanges.
Liquidations in futures markets occur when an investor’s losses exceed the funds available, triggering an automatic closure of the position. This typically happens when market movements are unfavorable for the investor’s position, leading to the liquidation of the initial margin or the amount set by the investor.
Data from The Block’s Data Dashboard indicates that after reaching a 12-month high in the first week of January, the transaction volume of Solana-based tokens has declined. The economic transaction volume of SOL and SPL tokens on the Solana blockchain network dropped from approximately $47 billion to $34 billion in a week.
Furthermore, other data show a decrease in the number of active addresses on the Solana network, from the annual high of around 981,000 on December 21 to current levels of around 599,000.
Solana’s network gained attention when Aave’s governance considered deploying Aave v3 on Neon EVM, a smart contract platform enabling Ethereum dApps on Solana. The proposal by Neon Foundation and Aave Chan Initiative aims to expand Aave’s lending services as a minimum viable product within the Solana ecosystem, currently under community review. If approved, the deployment will utilize Solana’s liquidity for Aave’s lending services, with a version of Aave v3 already present on Neon EVM’s developer-focused testnet.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/solana-faces-significant-liquidations-amid-market-volatility" rel="noopener noreferrer nofollow">Solana Faces Significant Liquidations Amid Market Volatility</a></h5>

Solana Faces Significant Liquidations Amid Market Volatility

BH NEWS

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