In the past two months, the market has witnessed several liquidation waves worth more than $1 billion. The transition between late September and early October may bring significant volatility for certain altcoins that are drawing market liquidity.
This article highlights the risks behind these altcoins and explains why they may face heavy liquidations in the first days of October.
1. Solana (SOL)
SponsoredSolana (SOL) is trading near $200, a psychologically important level that can shape traders’ outlook for the coming month.
SOL’s seven-day liquidation map balances potential long and short liquidations, suggesting that expectations from both sides remain evenly matched.
If SOL bounces from $200 and climbs to $230, about $1.18 billion worth of short positions will be liquidated. On the other hand, if SOL fails to hold $200 and drops to $186, long positions worth $1.16 billion could be wiped out.
BeInCrypto’s recent analysis indicates that short-term SOL holders are close to breakeven. However, the risk of capitulation is rising, which could push SOL below $200. If this scenario plays out, long traders will likely suffer losses this week.
At such sensitive levels, positive news could trigger sudden buying pressure. In the worst-case scenario, long and short traders could face losses if SOL dips under $200 before quickly recovering.
Sponsored2. Plasma (XPL)
Binance boosted liquidity for Plasma (XPL) in September by including it in the HODLer Airdrop program.
After soaring 130% to $1.8 and attracting $1.4 billion in open interest, XPL dropped over 20% to $1.3. This sharp reversal made XPL the fourth-most liquidated altcoin in late September, trailing only BTC, ETH, and SOL.
XPL’s seven-day liquidation map reveals an imbalance between accumulated long and short liquidations. The total short volume dominates, showing short-term traders actively shorting the token.
If XPL continues falling to $1.12, long liquidations could reach $64.4 million. However, if the token rebounds and rallies to $1.69, short liquidations may total $118 million.
Dune data shows that this layer-1 network remains highly active, with daily transactions hitting a record 400,000 and daily active users surpassing 10,000. The USD₮0 stablecoin market cap on Plasma also reached a new high of $5 billion.
Technical analysts expect XPL to rebound soon after its correction, which could inflict losses on short traders.
“Plasma overtook Base, Arbitrum, and Hyperliquid in TVL. XPL easily had the best launch this year. Any pullback = healthy correction before next leg up. $2 is clear from here,” trader Crypto General predicted.
3. Aster (ASTER)
SponsoredAster (ASTER) has captured market attention as the top revenue-generating cryptocurrency, despite having only a $3 billion market cap.
Its rapid success as a Perp DEX has driven investors toward the token. Despite a recent 20% correction, discussions around ASTER remain overwhelmingly positive.
The seven-day liquidation map shows that if ASTER climbs to $2.22 this week, more than $70 million worth of shorts will be liquidated. Conversely, if the price falls to $1.59, long liquidations could reach $65 million.
Strong market sentiment and whale accumulation may push ASTER’s price higher. In addition, YouTube star MrBeast’s public ASTER purchase has influenced other traders’ buying behavior.
Short sellers of ASTER may face a significant risk of liquidation.
