Solana breaks key trendline as Open Interest surges 5% to $5B

Solana (SOL) price could see increased volatility after breaking out amid its rising Open Interest (OI) on March 13, 2026.

After being trapped in a horizontal consolidation in the past five weeks, SOL price broke out of its falling trendline on a logarithmic chart during the last 24 hours, according to analysis by independent analyst Clifton Fx. 

SOL/USDT 4H. Source: TradingView

Solana, with a market cap of roughly $50 billion, at press time, surged over 4% in the past 24 hours to trade around $89.18 on Friday, as per data from CoinMarketCap, a price-tracking platform for digital assets. 

As such, Solana’s Open Interest, a dataset that tracks the total number of outstanding derivative contracts, spiked more than 5% today to hover around $5.46 billion at the time of this publication, based on metrics from CoinGlass.

Solana Open Interest for March. Source: CoinGlass

Solana bullish momentum builds on robust fundamentals 

Solana’s bullish momentum has been building up in the recent past catalyzed by the network’s robust fundamentals.

Solana metrics. Source: DeFiLlama

For instance, Solana’s total value locked (TVL) has grown steadily in the last six months to reach about $6.917 billion on March 13. Additionally, the network’s stablecoin market cap has increased in the past year to reach $15.64 billion as of this writing. Historically, a rising network activity on a blockchain has been associated with bullish sentiment and vice versa.

The midterm bullish momentum for Solana is also backed by the renewed demand from United States-based spot Exchange-Traded Funds (ETFs). During the past two days, the U.S. spot SOL ETFs have registered a net cash inflow of $5.58 million, thereby increasing their total net assets to $824.87 million, as revealed by data from SoSoValue.

Source: https://finbold.com/solana-breaks-key-trendline-as-open-interest-surges-5-to-5-billion/