Solana Loses Derivatives Interest And Momentum

Solana's native token SOL is struggling to hold $80 after a 67% slide from its $253 peak in September 2025, failing to reclaim $89 over the past two weeks and plunging to $67.60 during the Feb. 6 crash. Futures open interest has dropped 75% from a $13.5 billion high, weekly dApp revenue fell to $22.8 million, and Solana ETFs hold $2.1 billion versus Ethereum's $15.8 billion.
Key Points
- 1Record futures open interest fell 75% from $13.5B, indicating traders are exiting positions
- 2Note weekly dApp revenue dropped to $22.8M, with Pump memecoin generating 40% of network revenue
- 3Warn weak ETF assets ($2.1B vs ETH $15.8B) signal limited institutional demand for Solana
Scoring Rationale
Concrete on-chain and derivatives metrics drive relevance; narrow crypto focus and limited institutional confirmation constrain impact.
Sources
Public references used for this report.
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