Solana breaks key trendline as Open Interest surges 5% to $5B

Solana (SOL) price could see increased volatility after breaking out amid its rising Open Interest (OI) on March 13, 2026.

After being trapped in a horizontal consolidation in the past five weeks, SOL price broke out of its falling trendline on a logarithmic chart during the last 24 hours, according to analysis by independent analyst Clifton Fx. 

Solana, with a market cap of roughly $50 billion, at press time, surged over 4% in the past 24 hours to trade around $89.18 on Friday, as per data from CoinMarketCap, a price-tracking platform for digital assets. 

As such, Solana’s Open Interest, a dataset that tracks the total number of outstanding derivative contracts, spiked more than 5% today to hover around $5.46 billion at the time of this publication, based on metrics from CoinGlass.

Solana bullish momentum builds on robust fundamentals 

Solana’s bullish momentum has been building up in the recent past catalyzed by the network’s robust fundamentals.

For instance, Solana’s total value locked (TVL) has grown steadily in the last six months to reach about $6.917 billion on March 13. Additionally, the network’s stablecoin market cap has increased in the past year to reach $15.64 billion as of this writing. Historically, a rising network activity on a blockchain has been associated with bullish sentiment and vice versa.

The midterm bullish momentum for Solana is also backed by the renewed demand from United States-based spot Exchange-Traded Funds (ETFs). During the past two days, the U.S. spot SOL ETFs have registered a net cash inflow of $5.58 million, thereby increasing their total net assets to $824.87 million, as revealed by data from SoSoValue.