Solana Trades Higher Wednesday Morning — Is A $200 Breakout On The Horizon?
Posted On May 14, 2025
Solana (CRYPTO: SOL) fell somewhat in the early hours of Wednesday, but not before reaching a nearly three-month high.
What happened: The fifth-largest cryptocurrency by market capitalization soared to $184.72, the highest it has been since Feb. 18, before easing to around $180.
SOL gained over 5% in the last 24 hours, while its trading volume dipped 4.97%.
Investments in the derivatives market also soared. Open Interest in SOL futures and options rose 9% to $7.48 billion, the highest since Jan. 23, according to Coinglass.
Moreover, over 63% of derivatives traders on Binance with open SOL positions were positioned long, suggesting …
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