Solana futures open interest nears all-time high — Will SOL price follow?

SOL futures data shows a sharp uptick in leverage use, but SOL’s negative funding rate raises doubts on whether traders are bullish or bearish.

Key points:

Solana held the $140 support level for a week, a first in more than two months, highlighting traders’ growing confidence.

SOL futures open interest hit $5.75 billion on April 30, showing strong institutional interest.

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