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Solana and Sui surge, igniting interest in DeFi as TVL rebounds :
Solana price rises above $150, supported by an increase in the network's DeFi TVL to $7.84 billion.
SUI's price approaches $3.00 as its DeFi ecosystem TVL surges over 20% in 24 hours, reaching $1.52 billion.
SOL and SUI derivatives open interest explodes, signaling trader confidence amid growing risk-on sentiment.
Altcoins like Solana (SOL) and Sui gain strength on Wednesday, buoyed by several factors, including a significant recovery in the networks' Total Value Locked (TVL) in Decentralized Finance (DeFi). Moreover, open interest in the derivatives market and rising trading volume signal trader confidence in the short term.
According to Coinglass, SOL's Open Interest (OI) has increased by 13.98%, reaching $5.76 billion over the last 24 hours. Short position holders experienced a significant jump in liquidations, up to $20.24 million, compared to $2 million in long positions.
A similar trend occurred, with Sui's OI surging 37.57% to $1.04 billion in the last 24 hours. The uptick in price liquidated $12.27 million in short positions compared to $1.91 million in long positions.
#SOL
#SUI
#Crypto Market Rebounds