"Solana, Funding Rate Turns Negative... Investor Sentiment Worsens Amid Declining Demand"

YM Lee

Summary

It was reported that the funding rate of Solana (SOL) perpetual futures has turned negative.
It was indicated that investor sentiment is deteriorating along with a decline in demand for Solana long positions.
It was also reported that there is currently an increase in demand for short positions and ongoing distrust among bullish investors.

As the funding rate of Solana (SOL) perpetual futures turned negative, doubts among investors regarding the potential for a bull market are increasing.

On the 9th (local time), cryptocurrency-specialized media Cointelegraph reported, "Since the end of May, Solana (SOL) has failed to reach the psychologically important $180 mark, and with a sharp decline in demand for leveraged long positions on Solana, the funding rate turned negative as well."

The media explained, "The fact that Solana's perpetual futures funding rate has turned negative indicates that demand for short positions has increased and overall distrust among bullish investors continues." According to Binance data, the current funding rate for Solana perpetual futures is -0.0007%.

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