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via Cointelegraph · By Cointelegraph Staff
SOL’s 30% Open Interest Drop Puts $68 Back In Focus
SOL
SOL/USDT
$75.22
-0.17%
$75.22
-0.17%
(24s)24h Volume
$558,801,342.67
24h H/L
$75.74 / $75.17
Change: $0.5700 (0.76%)
Long/Short
72.3%
Long: 72.3%Short: 27.7%
Funding Rate
-0.0014%
Shorts pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(10:39 PM UTC)
1 min read
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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