Solana Leads Five-Asset Open Interest Gains With a 5.17% Rise

Solana (SOL) posted the largest 24-hour open-interest increase among five crypto futures markets at 5.17%, while Bitcoin (BTC) retained the largest balance at $7.33 billion in a Nov. 9 snapshot.

The snapshot was taken at 6:01 p.m. ET. Bitcoin open interest was up 3.89% over 24 hours. The total matched the figure in a Nov. 6 five-asset futures snapshot.

Ether (ETH) open interest totaled $4.78 billion, down 1.18%. Solana had $833.7 million, up 5.17%; XRP had $352.3 million, down 0.75%; and Dogecoin (DOGE) had $168.1 million, down 1.39%. Open interest measures the value of derivatives contracts that traders have not closed.

Funding rates were 0.0100% every eight hours for Bitcoin, Solana, XRP and Dogecoin, equivalent to 10.9% annualized. Ether’s rate was 0.0089%, or 9.7% annualized. In perpetual futures, positive funding means traders with long positions pay those with short positions.

Long accounts outnumbered short accounts in all five markets. Bitcoin’s mark price was $75,227, with 73.6% of accounts long and 26.4% short. Ether was at $2,134, with 79.2% long and 20.8% short.

Solana’s mark price was $86.72, with 77.2% of accounts long and 22.8% short. XRP was at $1.10, with a 74.9% long share and 25.1% short share. Dogecoin was at $0.0700, with 72.0% long and 28.0% short.