Solana open interest on OKX declines twelve percent as token trades near 100 dollars
Open futures positions in Solana have dropped to multi-week lows on OKX while the spot price tests the 100-dollar threshold.
Solana traded at 103.82 dollars on October 14, marking a 2.99 percent daily decline and a 10.35 percent drop over seven days, bringing its total market capitalisation to 61.17 billion dollars. The spot price remained 3.68 percent above the 100-dollar level, which has served as support since mid-September.
Data from crypto exchange OKX reveals that total open interest in Solana futures contracts fell 12.1 percent over eight days, dropping from 406.4 million dollars on October 7 to 357.4 million dollars on October 14. This represents a 16.2 percent unwinding of leveraged positions since the late-September peak of 426.6 million dollars.
The SOL-USDT perpetual swap accounted for 3,033,471 SOL of the total open exposure, equivalent to roughly 315.2 million dollars. In addition to the reduction in open contract value, the funding rate on the exchange stood at zero, reflecting subdued leverage across the market.
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