Open interest (OI) for major cryptocurrencies such as XRP, Solana, and Dogecoin has dropped significantly, falling a combined 51% last month. Dogecoin led the way with a 64% drop, followed by Solana and XRP, which fell 47% and 44%, respectively. Market instability and uncertainty, especially after the Bitcoin halving event, fueled this trend. Bitcoin and Ethereum open interest also fell, while prices across the market fell. During this period, Bitcoin's dominance rose by 2.13%, indicating a rotation of capital from altcoins to Bitcoin.