SOL - Bitcoin Ethereum Dogecoin Edge Higher As Market Cheers Solana Spot ETF Filing: Analyst Forecasts King Crypto's Bounce To $66K If This Condition Holds | Benzinga
Leading cryptocurrencies ascended Thursday as the market celebrated the entry of Solana (CRYPTO: SOL) in the now hot spot exchange-traded fund for digital assets in the U.S.
What Happened: Market bellwether Bitcoin dramatically spiked to $62,300 after asset manager VanEck filed an S-1 registration form with the SEC for a spot Solana ETF. However, the rally was short-lived, as King Crypto dipped to $61,300 by the end of the trading session.
Ethereum rose beyond $3,400 and stabilized at those levels, while Solana, the cryptocurrency at the center of it all, increased by nearly 8% in the last 24 hours.
In the past 24 hours, 33,157 traders were liquidated, with the total liquidations coming in at $71.11 million. Short liquidations accounted for 60% of the total.
All three major coins experienced an increase in Open Interest, with Solana seeing a 9% increase in money locked in unsettled derivatives contracts. Bitcoin’s OI increased by 0.48%.
Interestingly, the number ...