Solana ETF inflows last week reached a new high since February, and SOL futures open interest surged 30%.

This is not a coincidence. SOL has been consolidating around $120 for a long time, and ETF capital is the most direct signal of institutional entry. Futures position surge indicates leveraged funds are betting on a breakout.
But don’t forget: funding rates are rising in tandem, and the long-short ratio is approaching extremes. If the breakout fails, high-leverage positions could trigger a chain of liquidations.
Solana’s fundamentals are indeed improving—Alpenglow upgrade testing, real-world asset (RWA) applications landing. But market sentiment has already priced in these positives in advance.
The current structure is: institutional capital inflow vs retail traders with high leverage. The latter is often more dangerous.
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