Solana Rises 2.62% in One Hour to $123 as Short Liquidations Reach $7.7M

Solana (SOL) rose 2.62% in one hour to $123 at 1:51 p.m. ET (17:51 UTC) Oct. 2, while short liquidations across three exchanges reached $7.7 million during the same period.

The price moved from $120 an hour earlier. SOL was up 3.50% over the 24 hours ending at the time of the measurement. TokenPost calculated the figures from collected Binance spot SOL/USDT prices.

Liquidations totaled $7.7 million for short positions and $10,000 for long positions across Binance, Bybit and OKX in that hour. A liquidation occurs when an exchange closes a leveraged position after its margin requirements are no longer met.

Solana ranked seventh by market capitalization, at about $71.35 billion.