The latest Binance market data reveals that the SOL/USDT Perpetual Contracts are experiencing a long/short ratio of 4.26, indicating a significant dominance of Long positions. Moreover, the funding rate currently stands at -0.0003%.
Longs Lead the Way in SOL/USDT Perpetual Contracts
Traders in the SOL/USDT market are overwhelmingly favoring Long positions, as evidenced by the long/short ratio of 4.26. This bullish sentiment suggests a high level of confidence in Solana’s potential price rally.
What’s Behind the Funding Rate of -0.0003%?
The negative funding rate of -0.0003% implies that shorts are paying longs in this perpetual contract. This scenario often occurs when there is more demand for long positions, leading to a surplus that shorts must cover.
Could Solana See Explosive Growth?
With the longs outnumbering shorts and a negative funding rate in play, Solana might be gearing up for a substantial price surge. Traders and investors are eyeing the potential for Solana to make significant gains in the near future.
Don’t Miss Out on the Solana Action!
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