Solana News Today: Investor Bets Signal Solana's High-Stakes Breakout Moment

Solana’s open interest (OI) in futures markets hit an all-time high of $13.68 billion, signaling strong speculative interest in the derivatives market, as reported by Cointelegraph. Such high demand suggests derivatives traders are betting on Solana’s upward trajectory, potentially amplified by institutional inflows and ETF speculation [1]. High Open Interest often precedes significant price moves, as seen between April and July when a 188% increase in OI preceded an over 103% increase in SOL price. The current rise in OI, alongside a 17% price increase to around $217, coincides with the approval of the Alpenglow upgrade, boosting investor confidence [1].

Solana’s price action has formed a bullish megaphone pattern on the weekly chart, suggesting the potential for a parabolic rise if the price breaks above the upper trend line around $330. This could clear the path for a rally toward the measured target of the pattern at $1,057, or a 400% increase from the current level [1]. The relative strength index has increased from 49 to 61 since early August, indicating that the bullish momentum is steadily building up. Bulls are now focused on pushing SOL above the cup’s neckline at $250 to continue the rally. Analyst Gally Sama stated that the “bullish multimonth setup on the weekly chart usually leads to strong moves,” with a $1,000 price target if the range is broken [1].

Despite the positive technicals and record OI, Solana’s onchain activity has been less encouraging. Over the past 30 days, Solana’s transaction count dropped by 99%, signaling diminishing onchain activity that could curtail SOL’s price recovery. In contrast, Ethereum transactions increased by 39% during the same period. Solana’s number of active addresses also fell by 22%, showing decreased network usage. DEX activity on Solana fell for the third consecutive week, with weekly DEX volumes falling by 65% to $10.673 billion [1].

MAGACOIN FINANCE, an Ethereum-based cryptocurrency project, has announced strong presale momentum, with multiple rounds closing quickly as early investor participation accelerates. The project’s scarcity-focused tokenomics and cultural branding have made it one of the most closely followed altcoin launches of 2025 [2]. Market observers note that while Dogecoin and XRP maintain strong communities, their scale makes large percentage gains harder to achieve, prompting investors to diversify into smaller-cap opportunities like MAGACOIN FINANCE [2]. Independent commentators highlight three factors behind MAGACOIN FINANCE’s early success: strong presale momentum, scarcity-driven design, and cultural positioning [2].

Cardano’s ADA Voucher Program has been the subject of an independent forensic audit that found no evidence of misconduct and highlighted strong ADA recovery rates. The audit, conducted by law firm McDermott, Will & Schulte and accounting firm BDO, confirmed that nearly all vouchers had been successfully redeemed. The investigation concluded that all accusations against the voucher program were without basis and that the program was structured with safeguards to prevent deceptive sales tactics [3]. Data from the investigation showed that 14,282 vouchers, representing 25.9 billion ADA tokens, were successfully redeemed through on-chain redemptions and the Post-Sweep Redemption Project [3].

Source:

[1] Solana charts $1,000 SOL price target, open interest hits all-time highs (https://cointelegraph.com/news/solana-charts-1000-sol-price-target-open-interest-all-time-highs)

[2] Dogecoin and XRP context underscores altcoin rotation as MAGACOIN FINANCE presale gains momentum (https://www.morningstar.com/news/globe-newswire/9523689/dogecoin-and-xrp-context-underscores-altcoin-rotation-as-magacoin-finance-presale-gains-momentum)

[3] Cardano audit confirms 99.7% of voucher ADA redeemed (https://cryptobriefing.com/cardano-voucher-audit-results/)