$SOL remained volatile throughout 2025 after it reached an all-time high of $294 on January 19. Following the rally, a huge meme coin selloff pushed its price below $200.

Although Solana’s price action paints a bearish picture, SOL’s Open Interest has surged to $3.3 billion. This recent spike suggests that increased capital is entering Solana’s contracts, potentially setting the stage for a recovery.