Solana

2026

Spot

<p>In May, <a href="https://en.coin-turk.com/bitcoin-and-altcoins-show-strong-appetite-for-risk-as-solana-signals-optimism/" rel="noopener noreferrer nofollow">Solana</a> (SOL) saw a sharp decline in its futures market. Open interest plummeted from $2.75 billion to $1.9 billion, marking a significant 30 percent drop. Meanwhile, there was a clear contraction in leveraged positions and an overall cooling of risk appetite across the cryptocurrency market.</p>
<h2 id="market-pressure-and-key-supports-under-threat">Market pressure and key supports under threat</h2>
<p>SOL’s price slid toward the $80 range after broad market turbulence, which was triggered by escalating military tensions between the US and Iran. Technical analysis shows the $80–$95 bracket has historically served as solid support, but a breakdown at these levels poses the risk of a fall to this year’s low of $68.</p>
<p>According to Tradingview and Coinglass, the perpetual futures funding rate dropped to as low as -0.0088 percent. With prices under clear downward pressure, short-sellers continued to dominate the market. The Relative Strength Index (RSI) approached oversold territory, while the MACD indicator remained negative.</p>
<h2 id="technical-assessments-and-analyst-perspectives">Technical assessments and analyst perspectives</h2>
<p>Crypto market analyst Sjuul emphasized on social media that SOL’s outlook weakened after being rejected at $98. Sjuul identified $88 as a critical resistance, warning that sustained selling could drive the price down to $76. The analyst argued that for a new upward move, the price must firmly stay above $88.</p>
<blockquote>
 <p>“Since being rejected at $98, SOL’s downward momentum has only increased. Key levels are acting as resistance, and a break above $88 is essential for any upward movement,” explained Sjuul.</p>
</blockquote>
<p>Mini glossary: Open interest refers to the total value of active and unsettled positions in futures contracts, reflecting the overall leverage in the market.</p>
<p>Another market observer, Cold Blooded Shiller, flagged SOL as the weakest among major assets by volume. If SOL loses the $80 level, he warned, it could face a lack of meaningful support below this point.</p>
<h2 id="spot-market-divergence-stands-out">Spot market divergence stands out</h2>
<p>Despite turbulence in derivatives, the spot market told a different story. Cumulative spot volume delta (CVD) climbed to $350 million since March, showing persistent accumulation by investors. Additionally, SOL spot ETFs saw net inflows of $113 million in May—the largest single-month performance so far in 2026.</p>
<p>These spot market inflows suggest investors remained cautious but committed to accumulation, even as futures positions shrank. Notably, total yearly futures volume fell sharply to -$13 billion, pointing to sustained selling pressure on derivatives platforms.</p>
<table>
 <thead>
  <tr>
   <th>Period</th>
   <th>Futures Open Interest</th>
   <th>Spot ETF Net Inflow</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Start of May 2026</td>
   <td>$2.75 billion</td>
   <td>—</td>
  </tr>
  <tr>
   <td>End of May 2026</td>
   <td>$1.90 billion</td>
   <td>$113 million</td>
  </tr>
 </tbody>
</table>
<h2 id="liquidation-risk-and-critical-thresholds-ahead">Liquidation risk and critical thresholds ahead</h2>
<p>Throughout the year, the $68 mark has served as a critical battleground, with around $800 million in open long futures positions clustered at this level. As prices near this range, the risk of large-scale liquidations grows, raising concerns about heightened volatility for crypto investors operating around these points.</p>
<p>Taken together, the wave of declines in Solana’s futures market and the steady accumulation and ETF inflows in spot trading reveal a split landscape. In the short term, this suggests choppy, unpredictable price action could continue for SOL.</p>
<p>The post <a href="https://en.coin-turk.com/solana-sol-futures-open-interest-falls-30-percent-as-113-million-flows-into-spot-etfs/" rel="noopener noreferrer nofollow">Solana (SOL) futures open interest falls 30 percent as $113 million flows into spot ETFs</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Solana (SOL) futures open interest falls 30 percent as $113 million flows into spot ETFs

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