#SOL liquidation hits $328 million#

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Overview

SOL prices have recently surged significantly, rising by 18.74% in the past 24 hours, currently trading at $261.06. However, this surge has also triggered massive liquidations, with total contract liquidations reaching $448 million across the network. Of this, long positions accounted for $328 million, representing 73.2% of total liquidations. This indicates a divergence in market sentiment towards the SOL price rally, with some investors chasing the rally at high levels only to be caught by the market sell-off. While SOL has witnessed $10.25 million in liquidations in the past hour, this is significantly smaller compared to the 24-hour liquidations. Additionally, long liquidations account for only $1.68 million, representing 16.46% of total liquidations, suggesting a moderation in market sentiment.

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Analysis

Recently, the price of SOL has surged significantly, triggering massive liquidations. Data shows that in the past 24 hours, the total liquidation amount across the entire network reached $448 million, with long positions accounting for $328 million, or 73.21% of the total. In the past hour, the total liquidation amount across the entire network also reached $10.25 million, with long positions accounting for $8.16 million, or 79.41% of the total. This indicates that there were a large number of investors who were bullish on SOL in the market recently, and the rapid rise in the price of SOL has led to a large number of long positions being forcibly liquidated, resulting in massive liquidation events. It is worth noting that although the price of SOL has risen, the liquidation events also remind investors that the market volatility is huge, and investors need to be cautious in their operations, avoid excessive leverage, and implement risk control measures.

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