Solana’s (SOL) Momentum is Fading, Indicates Major On-chain Data Platform Santiment

Renowned on-chain data platform Santiment has reported that Solana (SOL), a formidable competitor to Ethereum (ETH) and having grown by over 150% since the beginning of the year, seems to be losing its momentum. Funding for Solana Rapidly Decreasing Santiment states that the recent Solana rally was fueled by short position liquidation, and that support now appears to be dwindling. According to the data platform, the ideal time to buy Solana was in the second week of June when the funding rate entered a decline, which has since given way to an uptrend: As can be seen from Solana’s funding rate on Binance and DyDx, the optimal time to buy would have been the second week of June when a sharp increase in the funding rate was seen. While prices may continue to climb before short positions are liquidated, the probability of an uptrend has definitively decreased. A funding rate […] The post Solana’s (SOL) Momentum is Fading, Indicates Major On-chain Data Platform Santiment appeared first on COINTURK NEWS.