Major Japanese exchange reveals SOL listing

Solana will gain further exposure in one of the world’s most important crypto markets after a major Japanese exchange confirmed its support for Solana. $SOL trading.

BitFlyer, a Japanese cryptocurrency exchange headquartered in Tokyo, announced in a recent tweet that it will soon start handling Solana, hinting at a possible listing.

“Solana ($SOL) has started handling. We will start handling $SOL Starts from June 24th (Wednesday). bitFlyer’s exchange makes buying and selling easy and convenient for everyone,” BitFlyer’s tweet was translated.

BitFlyer confirmed the listing of the seventh-largest cryptocurrency by market capitalization, describing Solana as “a blockchain that employs proof-of-stake (PoS) as its consensus algorithm. Furthermore, when combined with proprietary proof-of-history (PoH) technology, it achieves higher processing power, enabling faster and lower-cost transaction processing. It is a blockchain used as the basis for a wide range of applications.”

BitFlyer was founded in 2014 and is one of the largest cryptocurrency exchanges in Japan. Therefore, this list is still important.

Solana price gains momentum

Solana’s price has risen over the past 24 hours as the majority of cryptocurrencies, led by Bitcoin, have risen in the same time frame. Bitcoin has soared above $65,000, and analysts believe the surge is due to a short squeeze movement.

Solana is benefiting from bullish momentum, rising 6.48% to nearly $73 in the past 24 hours and 10% for the week.

Derivatives data suggests that the rally in major crypto assets may have been driven by a short squeeze rather than a new bullish position.

For example, Solana’s open interest, the total number of outstanding futures contracts, increased nearly 10% in the past 24 hours to $42.02 billion. Meanwhile, the funding rate, the periodic payments exchanged between long and short traders in the perpetual futures market, remains negative.