Altcoins are breaking out left and right, but noshitcoins says a lack of demand from the derivatives market could continue to weigh on Solana price.
for Solana-based NFTs, allowing users to create, sell and showcase their favorite digital arts and collectibles. SOL immediately reacted with a 5.7% pump in 15 minutes but retraced the entire movement over the next hour.
To get a more granular view of what is going on with SOL price, traders can also analyze Solana's futures markets to understand whether the bearish newsflow has affected professional traders' sentiment.Whenever there is relevant growth in the number ofcurrently in play, it usually means more traders are involved.
The futures premium indicator should run between 4% to 8% to compensate traders for"locking in" the money until the contract expiry. Thus, levels below 2% are bearish, while numbers above 10% indicate excessive optimism.Data from Laevitas shows that Solana's futures have been trading in backwardation for the past 30 days, meaning the futures' contract price is lower than regular spot exchanges.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Solana (SOL) Is Having Terrible Year, Data ShowsSolana (SOL) has underperformed Cardano (ADA), Avalanche (AVAX), and other major cryptocurrencies
Baca lebih lajut »
Helium, Building Out Mobile Network, Plans to Give Free Trials to Solana Phone UsersUnder the agreement, Solana’s Saga phones sold in the U.S. will get a 30-day free subscription to Helium Mobile. LedesmaLyllah reports
Baca lebih lajut »
Solana’s SOL Spikes 15% on a Suggestive Tweet From Google Cloud“Should we tell our followers the big news?,” Google Cloud tweeted an hour before revealing what it was doing with Solana.
Baca lebih lajut »
Gold Price Forecast: XAUUSD struggles around $1,630 ahead of US NFP dataGold price (XAUUSD) is facing barricades around the critical hurdle of $1,632.45 in the early Tokyo session. The precious metal has remained sideways
Baca lebih lajut »
Gold price rises on mixed signal from US jobs dataChair Jerome Powell signaled less aggressive tightening could be appropriate going forward.
Baca lebih lajut »