Solana (SOL) Open Interest Leads Five Major Markets With 3.64% Gain

Solana (SOL) open interest rose 3.64% over 24 hours, the largest gain among five major crypto perpetual-futures markets in a snapshot taken at 7:04 a.m. ET (11:04 UTC) Monday. Ether (ETH) had the highest share of long accounts.

Open interest measures the value of outstanding derivatives contracts. It increased for all five assets in the snapshot, with Bitcoin (BTC) recording the smallest gain at 0.52%.

Bitcoin’s mark price was $80,322, and its open interest reached $7.52 billion. Long accounts made up 69.0% of the total and short accounts 31.1%; its funding rate was 0.0080% every eight hours.

Ether was at $2,327, with open interest up 1.30% to $5.43 billion. Its long-account share was 77.2%, compared with 22.8% for short accounts. Ether’s funding rate was 0.0054% every eight hours, or 5.9% annualized.

Solana’s mark price was $101.25, and its open interest stood at $887.0 million. Long accounts represented 74.4% of the total, while short accounts represented 25.6%.

XRP was at $1.29, with open interest up 0.99% to $392.9 million. Its account split was 74.9% long and 25.1% short. Dogecoin (DOGE) had a mark price of $0.0770 and open interest of $212.6 million, up 1.95%; 72.4% of its accounts were long and 27.6% short.

Across the five assets, Ether had the largest long-account share, followed by XRP at 74.9%, Solana at 74.4%, Dogecoin at 72.4% and Bitcoin at 69.0%.

Funding is a periodic payment between traders holding opposing positions in perpetual futures. A positive rate means traders with long positions pay those holding shorts. Solana and XRP had the highest rates at 0.0100% every eight hours, equivalent to 10.9% annualized. Dogecoin’s rate was 0.0064%, or 7.0% annualized.

The readings update a prior five-asset derivatives snapshot, which put Ether’s long-account share at 76% and showed open interest rising for Bitcoin and Dogecoin but falling for Ether, Solana and XRP. Over the 24 hours ending at 7:04 a.m. ET Monday, open interest rose for all five assets.