Solana Futures Open Interest Reaches $13.68 Billion Amid Speculation on $1,000 Price Target

• Solana's (SOL) futures open interest hits a record $13.68 billion, underscoring heightened speculative activity.
• Bullish technical patterns point to a potential $1,000 price target but face resistance at $210-$250.

On September 3, 2025, Cointelegraph reported Solana (SOL) reaching an all-time high of $13.68 billion in futures open interest, highlighting increased speculative activity around the cryptocurrency. This notable milestone indicates strong derivatives market engagement, with traders positioning for potential price moves.

Technical analysts have identified two bullish patterns—a megaphone formation and a cup-and-handle breakout—indicating possible upward momentum targeting $1,000. Achieving this level will depend on whether Solana can surpass key resistance points between $210 and $250, considered crucial barriers to sustained upward movement.

Despite the optimism in derivatives markets, concerns linger regarding Solana's on-chain activity. Cointelegraph noted declines in network usage metrics, a sign of reduced blockchain activity that may constrain long-term price trajectory. Weak on-chain utility could temper the excitement surrounding speculative interest, posing a challenge to sustained growth.

On a positive note, the approval of the Alpenglow upgrade signals progress in enhancing Solana’s technical capabilities. According to Cointelegraph, the update is set to improve transaction throughput and finality, boosting Solana’s competitiveness relative to Ethereum. Enhanced performance may encourage institutional adoption and support further price discovery.

As of September 3, 2025, 16:13 UTC, Solana (SOL) was trading at $211.15, recording a 4.83% increase in 24-hour trading volume, according to CoinMarketCap.