Matrixport: Solana’s funding rate is currently as high as 70% annualized, and a price correction may occur

According to a report, Matrixport has released a chart today stating that Grayscale has submitted an application to convert Solana Trust into a spot ETF. Although the current asset management scale of the product is relatively small at $134 million, if approved, it will set an important market precedent for other ETF issuers. It is important to note that Solana's financing rate is currently as high as 70% annualized, which creates significant pressure on leveraged long positions. Historical experience shows that similar high financing rates are often related to price corrections, as was the case in March of this year when the SOL-USDT price fell under similar financing rate backgrounds.

In the weekly "Matrix on Target" report, it was mentioned that after Trump was elected president, it is expected that he will nominate crypto-friendly legal advisor Paul Atkins as the next chairman of the US Securities and Exchange Commission (SEC). If this nomination becomes a reality, it is expected to have a positive impact on the crypto industry.