Amid the issues that continue to plague the network, the Solana open interest has seen a drop in the last week. This drop coincides with a decline in the cryptocurrency’s price, suggesting that investors may be getting wary of waiting for a fix to come through.
Solana Open Interest Drops By $370 Million
Solana saw its open interest rise steadily since the start of 2024, hitting an all-time high after an all-time high in the process. Between January and April, the Solana open interest went from around $1.22 billion to hit a new all-time high of $2.86 billion on April 1. This translates to an over 100% increase over this three-month period.
However, since hitting this new milestone, the cryptocurrency has encountered issues which have presented in the form of a network halt. Around a week ago, Solana users noticed that the blockchain had stopped processing transactions as usual, leading to a standstill in network activities.
Expectations at the time were that the network w
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