Key Takeaways:
- CME Futures volume for SOL hit a record 1.75 million contracts on June 22.
- Open Interest stands strong at $6.1 billion, showing whales are betting big.
- Technical indicators remain neutral-to-bearish, suggesting any breakout isn’t confirmed yet.
Solana (SOL) is trading around the $145 mark, but institutional sentiment suggests a bigger move may be brewing. Despite the lackluster price action, Solana futures on the Chicago Mercantile Exchange (CME) have hit record-breaking volumes, with Open Interest also climbing sharply — hinting at renewed big-money bets.
CME Futures Volume Signals Institutional Interest
On June 22, CME Futures volume for Solana exploded to an all-time high of 1.75 million contracts, according to Glassnode data. This surge marks a pivotal shift in sentiment from institutional players, many of whom had remained on the sidelines during recent market consolidation.
$SOL CME Futures volume just hit an all-time high of 1.75M contracts – the highest on record. This surge suggests institutional investors are positioning aggressively as price rebounds to ~$145.
— glassnode (@glassnode) June 24, 2025
Track SOL derivatives data: https://t.co/yClXheGVZB pic.twitter.com/wmmA3kdwkB
The volume spike comes after a multi-week lull in both price and activity, raising eyebrows about the timing. Historically, similar bursts in volume throughout May foreshadowed significant price moves — suggesting that this could be more than just background noise.
Open Interest at $6.1B Hints at High-Stakes Positioning
Open Interest (OI) on Solana Futures has remained resilient, currently standing at $6.1 billion — its highest level since March. What makes this notable is the divergence between price and positioning: while SOL has pulled back from its Q1 highs, leveraged bets remain firmly intact.
This stickiness implies that sophisticated traders are holding — not folding — even amid short-term uncertainty. The last time Solana saw similar dynamics, it rebounded sharply in the weeks that followed.
Technicals Show Hesitation, Not Confirmation
Despite the futures frenzy, Solana’s technical indicators are sending mixed signals. The Relative Strength Index (RSI) sits at 45.7, suggesting the asset is neither overbought nor oversold — a hallmark of indecision.
Meanwhile, the Moving Average Convergence Divergence (MACD) remains in bearish territory, and volume on spot markets has yet to match the derivatives enthusiasm. The price has also stalled just below a key resistance level of $147, pointing to weak bullish conviction.
Also Read: Solana Price Stabilizes Above $136 With On-Chain Strength Backing a Rebound
Until the MACD turns positive or RSI pushes above 50, traders may need to temper expectations of a confirmed trend reversal.
Conclusion: A Breakout or Breakdown Looms?
Solana’s price may be rangebound, but under the hood, institutional traders are positioning aggressively. With CME Futures volume at record highs and Open Interest showing no signs of retreat, the market is coiling for a potentially explosive move — in either direction.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
