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<a href="https://bitcoinworld.co.in/solana-faces-decline-in-open-interest-as-longs-liquidated-amid-price-downturn/" title="Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn" rel="nofollow"></a>
Solana (SOL) experienced a decline in open interest (OI) since April 12, as over $85 million in long positions were liquidated amid a sharp market downturn. 
Solana (SOL) experienced a decline in open interest (OI) since April 12, as over $85 million in long positions were liquidated amid a sharp market downturn.&nbsp; 
According to CoinGlass data, Solana’s OI stood at $1.62 billion on April 14, down approximately 21% from the previous day.&nbsp; 
This came after SOL fell sharply from $172 to $117, losing over 30% in value on April 12 and 13. 
OI measures the total value of all outstanding Solana futures contracts that remain unsettled across various exchanges.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/will-solana-update-fix-the-current-network-congestion-heres-what-it-relies-on/" aria-label="“Will Solana Update Fix The Current Network Congestion? Here’s What It Relies On” (Edit)">Will Solana Update Fix The Current Network Congestion? Here’s What It Relies On</a> 
At the time of writing, the OI has since risen slightly to $2.04 billion, as Solana’s <a href="https://coinstats.app/coins/solana/">price</a> recovered to $134.648, a 12% gain over the past 24 hours, as per Coinstats data. 
<figure id="attachment_70553" aria-describedby="caption-attachment-70553" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-70553" src="https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-7-483x300.png" alt="" width="657" height="408" srcset="https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-7-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ADA-Price-Chart-7.png 760w" sizes="(max-width: 657px) 100vw, 657px">
 <figcaption id="caption-attachment-70553" class="wp-caption-text">
 ADA Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Similar declines have been observed across the top 10 cryptocurrencies.&nbsp; 
XRP experienced the most significant drop, losing 12.12% in the past 24 hours, followed closely by Dogecoin with a 10.86% decrease.&nbsp; 
Cardano trailed slightly behind with a 10.20% decline. 
These developments occur against the backdrop of ongoing network issues with Solana.&nbsp; 
On April 9, intermittent congestion on the Solana blockchain led to the postponement of several crypto projects’ launches.&nbsp; 
Solana developers are actively working on resolving these technical difficulties by April 15.&nbsp; 
Users of the Solana blockchain have reported increasing concerns regarding network congestion and transaction errors in recent weeks. 
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The post <a href="https://bitcoinworld.co.in/solana-faces-decline-in-open-interest-as-longs-liquidated-amid-price-downturn/">Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn

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