Solana Drops 15% to Two-Year Low After $16M Whale Liquidation — Can Bulls Hold $70?

Published at 2026-02-06 10:15:30

Solana (SOL) plunged roughly 15% on Friday, with on-chain data showing a single large long position fully liquidated and a realized loss near $16 million. The drop pushed prices to a two-year low and tested the psychological and technical support around $70, raising short-term downside risk for the token.

The liquidation highlights persistent leverage exposure in Solana's futures and margin markets and could accelerate volatility if stop-losses cascade. Traders will be watching futures open interest, funding rates and on-chain flow for signs of capitulation or incoming buy-side absorption. Holding $70 would give bulls a chance to stabilize; a decisive break could open lower technical targets and pressure risk sentiment across related markets.

LiquidationDerivativesSolanaCrypto MarketsWhaleVolatility

Share on:

The SEC is evaluating a proposal to list options on a Grayscale multi-asset crypto ETF and has asked for additional public comment as it assesses risks tied to crypto-related derivatives. Regulators want input on market structure, surveillance, and investor protections.

SECGrayscaleETFDerivativesCryptoOptions

Published at 2026-04-09 23:00:17

Pepe Files for ETF as Investors Snub Meme-Coin Hype

An application has been filed for a Pepe ETF aimed at Wall Street investors, but CoinShares analyst James Butterfill notes Dogecoin products have only seen lukewarm inflows, suggesting limited appetite for meme-coin ETFs.

PepeETFCrypto MarketsDogecoinWall Street

Published at 2026-04-09 21:31:08

Enjin Coin Surges 53% as Futures Open Interest Hits Record High

Enjin Coin (ENJ) jumped about 53% in 24 hours, trading roughly between $0.029 and $0.035 across exchanges, while futures open interest climbed to a record high. The move underscores renewed speculative and derivatives-driven attention on ENJ.

FuturesAltcoinDerivativesCryptoEnjin

Published at 2026-04-09 07:45:12

Hyperliquid Traders Hit by Mass Liquidations After Oil Crash

A sharp plunge in Brent crude — the steepest one-day drop since early 2020 — triggered widespread liquidations among leveraged Hyperliquid (HYPE) traders, wiping out many long positions. The spillover highlights how commodity shocks can quickly amplify crypto volatility.

HyperliquidLiquidationsOilVolatility

Published at 2026-04-08 18:16:06

Coinbase Granted Australian License to Offer Regulated Retail Derivatives

Coinbase has received an Australian Financial Services Licence allowing it to offer regulated retail derivatives. The approval gives the exchange an early regulatory advantage ahead of mandatory licensing rules for crypto providers.