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Solana futures see $12.9M wiped out as price drops to $103.61, long positions hold despite sell-off

Market News
22 Oct 2026
CryptoTicker
View Source
Bearish
Solana futures see $12.9M wiped out as price drops to $103.61, long positions hold despite sell-off

Solana's futures market on OKX saw $12.9 million in open interest vanish within 24 hours as the price fell 4.49% to $103.61 on October 22, 2026. Despite the drop, the ratio of long to short accounts rose from 2.24 to 2.57, indicating traders are holding long positions rather than opening new ones. The funding rate remains positive, suggesting longs still pay to stay in positions, and liquidation points cluster near $100, a critical support level. This dynamic shows potential selling pressure if prices fall below $100, but also highlights stablecoin demand on Solana's blockchain as a buying force. German retail investors face leverage limits, affecting their exposure compared to international traders. The situation reflects cautious market sentiment amid recent protocol upgrades and price volatility.

Solana's market cap on Pluang stands at Rp1.098,3 trillion as of Oct 23, 2026 04:23 WIB, with a 24-hour trading volume of Rp44,65 trillion. The price on Pluang is Rp1.874.265, down 3.55% over the past day, showing a slightly smaller decline than the article's noted drop. Order activity on Pluang is evenly split between buyers and sellers, and the typical hold time is 71 days, indicating moderate investor patience amid recent volatility.

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