Analisis Altcoin: Apakah $180 Menjadi Target Selanjutnya untuk SOL?
Altcoin Watch SOL futures funding rate turns negative: Is $180 the next stop? by Marcel Pechman /news/sol-futures-funding-rate-turns-negative-is-180-the-next-stop

SOL Perpetual Futures Funding Rate Turns Negative, Signaling Lack of Confidence Among Traders

SOL, the native token of blockchain platform Solana, is experiencing a decline in market sentiment, with its perpetual futures funding rate turning negative for the first time since early May. This rare event indicates a lack of confidence among traders, which may be due to the growing competition from Ethereum's layer-2 (L2) ecosystem.

Solana's competitive edge has been a subject of debate, with some analysts arguing that the platform's ability to innovate and provide maximum extractable value (MEV)-optimized staking and integrated decentralized finance services is a strength. However, others believe that Solana's lack of control over its validators, which is a major concern for institutional investors, may be a significant drawback.

The demand for leveraged long positions on SOL has dropped sharply, negatively affecting market sentiment. Moreover, Solana's failure to reach the $180 level since late May has raised doubts about whether a bull run in 2025 is still feasible.

Despite these challenges, Solana has continued to innovate and grow, with its quarterly revenue outpacing that of Ethereum and Tron. The platform has also seen a significant increase in decentralized application (DApp) activity, with users spending $460 million in 30-day fees.

However, the lack of confidence among traders is likely to continue to weigh on the price of SOL, making it increasingly difficult for the token to reclaim the $180 level. The odds of SOL's price reaching this level in the near future are slim, as institutional investors continue to bypass Solana due to MEV concerns.

In conclusion, the perpetual futures funding rate turning negative is a sign of a lack of confidence among traders, which may be due to the growing competition from Ethereum's L2 ecosystem and the lack of control over validators. While Solana has continued to innovate and grow, the challenges facing the platform make it increasingly difficult for the token to reclaim the $180 level.