Phoenix Trade adds SOL collateral for perpetuals
Solana (SOL)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that Phoenix Trade has introduced Solana (SOL) as collateral for perpetual positions. This new option is designed to enhance capital efficiency for traders. However, the move introduces correlation risk, which has the potential to amplify the impact of market volatility on the asset.
How the market reacted
Whalio's own Binance spot order flow for SOL, measured when this story was written up on 16 September 2026. Not the outlet's figures.
SOL is trading at $96.88 with a 24-hour buy ratio of 47.8%, indicating a slight edge for sellers over the full day. Short-term pressure shows 48.7% buying in the last hour, rising to 47.8% over four hours, suggesting immediate buying interest is stabilizing after a weaker daily average. Volume Delta reflects this dynamic, showing a net outflow of $1,051,359 in the last hour and $1,669,397 over four hours. Over the full 24 hours, the market saw a net outflow of $12,363,420, though Cumulative Volume Delta closed positive at $1,135,718, indicating that larger trades may have been buying. Spot volume reached $280,674,758 with 953,367 trades executed.
The latest daily buy ratio of 48.8% sits at the 27th percentile of the last 322 days, against a median of 50.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SOL, averaged over the days leading up to the story.
Over the preceding week, SOL experienced a 6.3% price decline with a 7-day average buy ratio of 48.5%. Today’s 24-hour buy ratio of 47.8% is 0.7 percentage points below this weekly average, marking a slight shift toward selling pressure. Volume for the day was 1.37 times the weekly average, signaling heightened activity despite the lower buy ratio. The 8-day Volume Delta total was -$52,408,021, with only 2 of the past 7 days showing net buying, characterizing this as an unusual day of elevated volume against a generally bearish weekly trend.