Solana Falls 2.58% in One Hour to $105 as Long Liquidations Hit $3.57 Million

Solana (SOL) fell from $108 to $105 in the hour ending at 10:17 a.m. ET (14:17 UTC) on Oct. 14, a 2.58% drop in collected Binance spot SOL/USDT prices; SOL was down 1.54% over 24 hours.

Liquidations across Binance, Bybit and OKX totaled $3.57 million in long positions and $30,000 in short positions during the same hour. Liquidations occur when exchanges close leveraged positions after traders can no longer meet margin requirements.

SOL ranked seventh by market capitalization at about $63.23 billion. The supplied figures do not identify a cause for the price decline.