CryptoSlate

$1.8 Billion Leverage Trap Building on Solana as Traders Pay 11-Month High Rates to Defend $78

August 9, 2026•09:00 AM

Intel Brief: A $1.8 billion leverage trap is building on Solana as traders pay 11-month high rates to defend the $78 price level. According to Velo data, aggregated funding on SOL perpetual futures has climbed to its highest level since September 2025, with futures open interest sitting near $1.8 billion, equal to roughly 23.1 million SOL in notional exposure at current prices.

Context and Impact: The current situation on Solana represents a high-risk scenario for traders, as the aggregated funding on SOL perpetual futures has reached record levels. Major exchanges including Binance, Bybit, Hyperliquid, and OKX are showing positive funding rates near 0.01% every eight hours, indicating upward pressure. This market dynamic could lead to mass liquidations if the SOL price fails to hold, potentially causing extreme volatility and negatively impacting overall cryptocurrency market sentiment.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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