Solana has quietly taken a step ahead in the derivatives market. Over the last day Solana recorded higher perpetual futures trading volume than Ethereum. The gap was small but the signal was clear. Traders are choosing Solana for short term leveraged trades.
This shift matters because perps trading reflects active risk taking. It shows where traders want fast moves and quick execution. Solana offers low fees and fast transactions. That makes it attractive when volatility picks up. As SOL price action became more active traders followed.
Over longer time frames Ethereum still leads. Monthly trading volume on Ethereum remains higher. But the short term flip tells a different story. It shows changing focus not long term dominance. Right now attention is moving toward Solana.
Another key signal is open interest. More money is currently locked into Solana derivatives than Ethereum. This means traders are not just trading quickly and leaving. They are holding positions. Capital is staying in the market.
That kind of behavior often comes before a bigger price move.
SOL price has been stuck below a clear resistance level near 144. Each time price approaches this area sellers step in. So far they have held the line. But pressure is building underneath.
Buying activity in futures markets is rising. More aggressive buyers are entering trades. This shows confidence. Traders are willing to pay market price to get long exposure. This usually happens when they expect higher prices ahead.
Despite this buying pressure price has not jumped yet. That is important. It means sellers are being absorbed rather than forcing price higher right away. This creates a tight range. Many traders call this a loaded spring. Energy builds while price stays calm.
If buying continues and sellers weaken price can move fast once resistance breaks.
Another positive sign comes from funding behavior. Funding has stayed mostly positive but not extreme. This shows traders are leaning long but not crowded. Extreme funding often leads to sharp pullbacks. Controlled funding supports steady trends.
At the same time open interest keeps rising while price stays stable. This tells us positions are being added without panic. Liquidations are not driving the market. New trades are.
This balance is healthy. It allows price to move higher without violent swings.
Solana is also benefiting from its broader ecosystem activity. More apps more users and faster chains help keep attention on SOL. Traders like assets that move cleanly and settle fast.
If SOL breaks above the 144 area liquidity above is thin. That means price can travel quickly. Many traders are watching the next major zone around 190 to 200. That level lines up with past structure and current leverage interest.
Nothing is guaranteed. If buyers lose strength or funding spikes too high risk increases. But for now conditions look steady.
Solana has shown it can compete not just in headlines but in real trading activity. The derivatives market is paying attention. If this trend holds a larger move may already be forming.
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