Solana Futures OI Hits $7.4B Amid ETF Buzz—Is $200 in Sight?
Key Highlights:
* Solana futures open interest surges to a 2-year high of $7.4B.
* ETF speculation fuels institutional demand and market optimism.
* Neutral funding rates and DEX slowdown temper bullish momentum.
As whispers of a Solana ETF grow louder, investor sentiment is turning sharply bullish. The crypto community is watching closely as $SOL derivatives market heats up, hinting at a potential breakout. Could a new all-time high be next?
Institutional Interest Surges
$SOL is back in the spotlight as its futures open interest (OI) skyrockets to $7.4 billion, marking the highest level in over two years. This surge is largely driven by growing speculation around a potential Solana ETF, which has sparked renewed interest from institutional players.
Market Signals Mixed Despite Hype
While the ETF rumors have energized the market, neutral funding rates and a notable drop in decentralized exchange (DEX) activity suggest caution. SOL has struggled to break past the $180 mark, and with DEX volumes down sharply, some analysts question whether a rally to $200 is sustainable.
