Solana reached a new 2026 high on September 23, with SOL touching $117.23 before settling at $116.68, a gain of 7.37% on the day. At the same time, more than $18 million worth of short positions were liquidated across derivatives markets.
SOL Reaches a New 2026 High Near $117
SOL climbed to an intraday peak of $117.23, its highest point in 2026. The quoted price at the time of writing stood at $116.68, reflecting the 7.37% jump over the prior 24 hours. The high is an intraday reading; prices move continuously, so the peak and the quoted figure naturally differ. For related coverage, see Solana RWA Value Hits $2.7 Billion ATH as Tokenized Assets Grow.
This push higher follows a broader run for Solana. Earlier this year, SOL broke above $110 for the first time in seven months, signaling renewed buying interest across spot and derivatives markets. For related coverage, see Ethereum Stablecoin Supply Hits $180B ATH — Up 150% in 3 Years.
More Than $18M in Solana Shorts Are Liquidated
A short position is a bet that a price will fall. When the price rises sharply instead, traders holding those bets are forced to close them by buying SOL to exit. More than $18 million in short positions were liquidated alongside the price move, according to reporting on the session.
That forced buying accompanied the rally, though liquidations are a correlated event rather than a confirmed cause. Institutional interest in Solana-related products has also been building, with Bitwise’s Solana staking ETF recently hitting a record high in assets under management.
What Traders Are Watching After Solana’s Surge
The key question now is whether SOL can hold near $116.68 after pushing to $117.23. Liquidation-driven moves can produce elevated volatility in both directions. Once short sellers are flushed out, the forced buying that helped lift the price disappears, which can leave the market more susceptible to a pullback.
Solana’s on-chain activity adds context to the price move. The network’s real-world asset tokenization value recently hit $2.7 billion, pointing to growing utility beyond speculation. The broader altcoin market has also been gaining ground, with Bitcoin dominance dropping to a one-month low as select altcoins outperform.
For anyone holding SOL or watching the market: the 2026 high is confirmed at $117.23, and the $18 million in forced liquidations added buying pressure to the move. Whether the price holds above $116 will depend on whether organic demand follows through.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always research thoroughly before making any decisions.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
