Solana futures open interest falls 30% in May as leverage unwinds and SOL tests the $80-$95 range
first published 2026-05-28T22:39:43Z
Solana futures open interest dropped 30% in May as leveraged traders reduced exposure across exchanges. Funding rates stayed near neutral while futures sell pressure increased. Spot demand was steadier, with positive spot CVD and $113 million in net inflows to SOL ETFs. SOL is trading near the lower end of an $80-$95 range, and a break below $80 could expose the yearly low around $68.
AI Analysis
The article reports a 30% drop in futures open interest and increased futures sell pressure, which is bearish for short-term trading. Spot demand and ETF inflows are supportive, but the price is still near range lows and a break below $80 could lead toward $68.
Expected Investor Sentiment: Bearish
Potential Market Impact: Significant
