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Points of Focus
- Solana traded near $107 after hitting $110.17, while open interest briefly topped $7.5 billion.
- Futures volume reached $16.6 billion, more than nine times spot turnover.
- US spot Solana ETFs drew $60.91 million on Aug. 27, led by BSOL’s $40.20 million.
Solana (SOL) traded near $107 on Friday after reaching a 24-hour high of $110.17, while aggregate futures open interest briefly climbed to about $7.57 billion.
SOL remained roughly 10% higher over 24 hours, but open interest eased toward $7.4 billion as price retreated, showing some positions closed after the spike rather than leverage continuing to expand.
Solana open interest tops $7.5 billion after $110 spike
CoinGlass data showed futures turnover near $16.6 billion against $1.76 billion in spot volume, putting derivatives activity at more than nine times spot trading. The volume gap shows where most trading activity sits, but it does not prove traders added leverage at the same pace as SOL’s price rose.
FuturesPulse reported on Aug. 27 that Binance SOL open interest increased 6.82% in dollar terms over 24 hours, while the number of open contracts rose only 1.08%. The company estimated that about 84% of the notional increase came from SOL’s price appreciation. Binance funding remained at its 0.01% baseline in the same analysis, giving little evidence of an aggressive long buildup.
Crypto trader Leo wrote on X that much of the open interest chasing SOL earlier in the week had been “cleaned out.” CoinGlass data partly supports that view, with aggregate OI falling from roughly $7.57 billion to $7.4 billion as SOL pulled back. Leo also pointed to the SGP-0002 disinflation vote as a catalyst, though voting was still open with 68.58% support and about 12 hours remaining.
– it appears the disinflation vote is basically all but passed now and most of the OI that chased $sol a couple days ago has been cleaned out
– think this is a great set up https://t.co/UNbHmbVR4q pic.twitter.com/5IR6ngr3M1— Leo (@0x_Leo_) August 26, 2026
Solana ETF inflows add spot demand
US spot Solana exchange-traded funds (ETFs) recorded $60.91 million of net inflows on Aug. 27, according to SoSoValue data. Bitwise’s BSOL led with $40.20 million, while cumulative inflows across the category reached $1.322 billion and total net assets stood at $1.486 billion.
ETF buying gives SOL a separate source of demand outside futures, but the flows remain concentrated. BSOL has accumulated about $1.011 billion of the category’s $1.322 billion in historical net inflows, or roughly 76% of the total.
According to recent data from CoinGlass, SOL traded near $107.13, and open interest stood at $7.40 billion, down about 2.2% from the $7.57 billion intraday OI peak, while the price sat 2.8% below $110.17.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile. Always conduct your own research before making investment decisions.
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