Open interest in Solana futures hit a record as the token climbed to $217, its highest since February, even as Solana’s Q2 revenues dropped 44%. Broader markets weakened, with the CoinDesk 20 Index down 3.6% ahead of U.S. inflation data that could shape Fed rate policy.
Derivatives flows showed capital outflows from most majors, with CME Bitcoin OI at its lowest since April and ETH futures near record highs. Solana’s DeFi TVL rose 30% to $8.6B, though spot DEX volumes fell sharply as memecoin activity cooled.
