Solana Open Interest Reaches $7.5 Billion…"Possibility of Surpassing $300"

Solana (SOL) open interest (OI) has approached $7.5 billion.

Cointelegraph reported on the 28th (local time) citing CoinGlass data that Solana futures open interest was approximately $7.5 billion as of that day. This is about $1 billion less than the all-time high of $8.5 billion recorded on January 19th of this year. Cointelegraph stated, "A large open interest indicates increased speculative interest," and "It suggests that investors are preparing for significant price volatility."

The possibility of Solana surpassing $300 is also being raised. Cryptocurrency futures analyst Byzantine General stated on X that "Solana could surpass $300 if momentum builds."

As of 9:05 a.m. that day, Solana was trading at $172.03 on CoinMarketCap, down 2.65% from the previous day. Cointelegraph emphasized that "$180 is an important inflection point," and "If this price level is decisively broken, a continued bullish trend can be confirmed."