Solana Futures Open Interest Reaches All-Time High of $13.68 Billion
Solana's futures Open Interest (OI) has reached an all-time high of $13.68 billion, indicating strong demand and institutional interest in SOL. This surge aligns with a 17% price increase to $217 in Q3, driven by the Alpenglow network upgrade.
Key Highlights
- The Alpenglow upgrade reduced transaction finality from over 12 seconds to 150 milliseconds.
- Solana can now handle over 107,000 transactions per second (TPS), enhancing its appeal for high-frequency trading.
- A high OI suggests significant new capital entering the derivatives market, indicating potential major price movements.
- Growing institutional flows and a robust DeFi ecosystem are contributing to Solana's prominence.
- Orca, a decentralized exchange on Solana, is implementing features to improve investor security and reliability.
- A recent $22 million liquidation of short positions occurred as SOL's price surged above $200, signaling renewed bullish momentum.
