The crypto market is entering October with tension. Billions of dollars are on the verge of liquidation, and three tokens stand out in particular — Solana, Plasma, and Aster. Any price movement in the coming days could result in mass position wipeouts and intensify fear among traders.
Solana Balances at $200
SOL is holding at the $200 mark, and this level will be decisive. If the price rises to $230, about $1.18 billion in short positions will be liquidated. But a drop below $200 and a move to $186 will result in $1.16 billion lost in longs.
Investors who bought the token at local highs are now hovering near breakeven. This increases the risk of capitulation. Any news — a partnership or regulatory blow — can raise market volatility. But high volatility is dangerous: it can punish both bulls and bears.
Plasma Faces Short Bias
September brought Plasma an impressive 130% growth, but then there was a pullback from $1.8 to $1.3. Now XPL is the fourth largest altcoin by liquidation volume, behind only BTC, ETH, and SOL.
Data shows a bias toward short positions. If it falls to $1.12, long losses could exceed $64 million. If the price rises to $1.69, short losses could reach $118 million. Despite the correction, Plasma remains one of the most active new blockchains: up to 400,000 transactions per day, and stablecoin capitalization on the network is already $5 billion.
Additional pressure was caused by FUD that Plasma was allegedly developed by the same team as Blast. However, industry sources call this an ‘organized attack without evidence.’
See also: Deposits in Plasma Chain on Aave exceeded $6.5 billion
Aster: Betting Against the Whales
Aster maintains a reputation as a top DEX by revenue, even with a modest capitalization of $3 billion. After a 20% correction, interest has not faded — on the contrary, whales continue to accumulate the asset, and in the retail segment, growth is fueled by influential figures. It is known that the popular blogger MrBeast bought the token.
If the price rises to $2.22, short positions worth $70 million will be at risk. If it falls to $1.59, long losses will amount to $65 million. But for now, the trend favors buyers, and it is the sellers who are at the greatest risk.
What’s Next?
The market picture resembles a minefield. Solana is fighting for the key $200 level. Plasma retains the status of one of the riskiest but also most promising launches of the year. Aster is balancing on the edge of hype and fundamental strength.
October began with tens of millions of dollars in liquidations, and this may be just the beginning. For traders, the coming weeks will be a test of endurance and discipline.
Read more: David Schwartz to leave his post as Ripple CTO at the end of the year
