via Cointelegraph · By Cointelegraph Staff
SOL’s 30% Open Interest Drop Puts $68 Back In Focus
SOL/USDT
$790,140,147.40
$75.23 / $73.74
Change: $1.49 (2.02%)
+0.0036%
Longs pay
Solana (SOL) futures dropped sharply in May as traders reduced leveraged exposure across all exchanges. SOL open interest (OI) dropped to $1.90 billion on Thursday from $2.75 billion on May 11, a 30% decline, while funding rates remained close to neutral. The combination points to weakening investor sentiment as SOL eyes a retest of its yearly low at $68.
SOL spot demand offsets futures…
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