Solana open interest drops 30% as altcoins slump: Is $68 SOL next?
Solana's futures open interest plummeted 30% in May to $1.90 billion as traders offloaded leveraged positions amid weakening sentiment. SOL trades near $80, testing a three-month range floor with potential downside toward the $68 yearly low where $800 million in leveraged liquidations cluster. Spot ETF inflows at $113 million suggest retail accumulation persists despite derivative selling pressure.
Key takeaways
- 1Solana futures open interest fell 30% to $1.90 billion in May as traders reduced leveraged positions amid weakening sentiment.
- 2SOL trades near $80 with potential downside to $68 yearly low where $800 million in leveraged liquidations cluster.
- 3Spot SOL ETF inflows reached $113 million in May, strongest monthly total for 2026, showing retail accumulation persists.
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Why it matters
Indian retail investors face critical decision point as SOL volatility increases—futures market weakness paired with spot ETF accumulation signals leverage unwinding rather than panic, but further downside could trigger cascading liquidations. SOL's technical weakness amid broader altcoin slump affects portfolio risk management and entry-exit timing for derivative traders in India's growing crypto market.
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