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9h ago

Solana Tops $200 on Short Squeeze as Futures Interest Hits Record

Holding a daily close above $205–$210 would validate the breakout toward $223–$236.

Solana captures 40% of crypto buybacks: SOL can reach $295 IF…
Solana: 3 reasons why SOL can hit $223 before September ends

Overview

  • Solana briefly reached $211 before easing to about $209, extending a move that reclaimed the $200 pivot and lifted its market value above $107 billion.
  • Analysts report a squeeze of short positions above $190 that cleared liquidity clusters and helped propel the push through the $200 level.
  • Derivatives activity strengthened with Futures open interest hitting a record $12.9 billion and longs edging to 50.6% of contracts.
  • Ecosystem flows strengthened the case for sustained demand, with weekly protocol buybacks jumping to $46.8 million and Solana reportedly handling nearly half of USDC transfers.
  • Whale accumulation and a recent U.S. spot SOL ETF filing by VanEck support the bullish backdrop, while key levels to watch include $205–$210 near term, a breakout at $236, and the $295 all-time high as major resistance if momentum persists.