Solana’s funding rates suggest caution, but historical trends point to potential short-term price gains. SOL dropped to $213 amid market risk aversion, triggering $112 million in liquidations. The funding rate for perpetual futures was near zero, reflecting limited demand for leveraged long positions. Despite declining network activity and competition, strategic treasury reserves and fundamentals support SOL. The market remains cautious amid concerns over inflation and the labor market, with cryptocurrency market cap down $178 billion since Sunday.

Read more at Cointelegraph: SOL Leverage Longs Jump Ship, Is $200 Next?