Solana Surges Past $100, Open Interest and ETF Inflows Soar

Solana's SOL token has broken above $100, reaching its highest level since late January. The price surge comes as open interest in Solana derivatives rose by 12.73% to $7.10 billion, while trading volume increased by 32.64% to $12.25 billion.

According to Coinglass data, the number of options traded rose by 20.37% to $29.82 million, with the number of options open increasing by 6.51% to $171.28 million.

Solana ETFs saw net inflows of $9.14 million on August 26, led by Morgan Stanley's MSOL group with $5.51 million. The BSOL fund from Bitwise attracted $2.65 million, while VanEck's VSOL received $972,880.

With SOL currently trading at $105.40, some analysts predict a potential move towards $120 if the price breaks above the next resistance level at $110. However, if the price falls below $100, the $95 support zone may become a possibility again.