Solana Leads Five-Market Open-Interest Declines With 10.97% Drop

Solana’s perpetual-futures open interest fell 10.97% in a 24-hour snapshot at 6:02 p.m. ET Nov. 14, the steepest drop among five crypto markets as open interest declined in all five.

The measure totals the dollar value of derivatives contracts that remain open. Solana’s total stood at $639.3 million, with a mark price of $69.26. A Nov. 13 five-market snapshot also showed Solana with the group’s largest open-interest decline.

Long accounts outnumbered short accounts in every market, ranging from 69.9% for Dogecoin to 77.3% for Solana. Funding rates were positive for Bitcoin, XRP and Dogecoin, meaning long perpetual-contract holders paid those holding short contracts. Rates were negative for Ether and Solana.

Bitcoin (BTC) had a mark price of $63,597 and open interest of $6.24 billion, down 7.11%. Its funding rate was 0.0032% every eight hours, or 3.6% annualized; long accounts were 74.0% of the total.

Ether (ETH) traded at a mark price of $1,747, with open interest down 8.42% to $4.08 billion. Its funding rate was -0.0067% every eight hours, or -7.4% annualized. Long accounts represented 74.3%.

XRP’s mark price was $0.899. Open interest fell 5.50% to $279.4 million, while funding was 0.0026% every eight hours, or 2.8% annualized. Long accounts made up 72.3%.

Dogecoin (DOGE) had a mark price of $0.0563 and open interest of $142.0 million, down 6.12%. Funding was 0.0027% every eight hours, or 2.9% annualized, and 69.9% of accounts were long. Solana had the lowest funding rate, at -0.0136% every eight hours, or -14.9% annualized; 22.8% of its accounts were short.