A recent surge in price for Solana (SOL) has led to massive liquidations of short positions among traders. According to CoinGlass data, over $14.69 million worth of SOL was liquidated within the past 24 hours, significantly exceeding XRP’s $5.22 million liquidation volume. This trend is attributed to an imbalance in short-selling activity, where losses for those betting against SOL reached five times that of long traders who profited from the price increase. The dramatic price surge in SOL ($124.34) – up 4.85% – has generated market optimism, with analysts suggesting the momentum could propel it past $130 resistance. This trend highlights a shift in market sentiment and increased confidence among traders who believe in SOL’s potential for further growth.