Solana market remains highly leveraged after price drop, Joao Wedson notes

Solana market remains highly leveraged after price drop, Joao Wedson notes
Solana open interest signals high leverage

Joao Wedson highlights the importance of analyzing open interest in cryptocurrencies like Solana by coin terms rather than USD value.

According to Joao Wedson, reviewing SOL open interest in coin units reveals that the market remains highly leveraged, even as prices have experienced a sharp decline.

Wedson has previously commented on shifts in trader positioning across digital assets. He recently noted the increased pressure on long traders in Polkadot after a period of persistent interest in leveraged positions, as detailed in his analysis of Polkadot trading. In an earlier observation, he reported that long-term Bitcoin holder supply is now 5.2 times greater than that held by short-term investors, according to recent Bitcoin supply data.

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