Solana’s Open Interest Declines to April 2025 Levels
- Solana’s total open interest across all exchanges is $5.44 billion, equivalent to about 65.12 million SOL in outstanding futures contracts.
- Open interest has decreased significantly from its peak of $15-$16 billion in mid-September when the price was above $240.
- Binance holds the largest share of open interest at $951.84 million, followed by CME with $672.55 million and Bybit with $617.30 million.
Solana’s derivatives market indicates a significant reduction in speculative leverage, returning to levels seen in April last year, which suggests a major reset in trader activity and leverage use.
This decline in open interest reflects a decrease in leveraged trading, potentially reducing immediate buying pressure but also indicating that excess leverage has been largely removed from the system. (Source)
