Solana (SOL) ended its period of consolidation and has started a new rally after the 30-day open interest (OI) is about to turn positive. The network is also dominating the tokenized asset sector by processing millions in volume as MoneyGram becomes a validator for the Solana network.
SOL’s 30-day open interest about to turn positive
Solana (SOL) seems to be firing on all guns. From the futures market to tokenized assets, the network has been performing well. An analyst who goes by the pseudonym Joao Wedson spotted Solana’s 30-day open interest just about to cross from the negative zone to the positive side.
The last two times this event happened (open interest turned positive), there was a rally that took Solana slightly higher but eventually crashed. And on top of that, whenever the open interest change was $2 billion or higher, SOL prices made a local top.
Short positions dominate futures market by slight margin
In addition to that, the open interest-weighted funding rate is negative but not deep in negative territory. When the funding rate goes negative, it usually means that the short positions are dominating the market.
Is there a short squeeze coming?
However, when the funding rate and the Solana prices are put into consideration, it reveals a totally different story. For instance, when the SOL price action is put into context, SOL has recovered after bottoming out at $60, is in the middle of forming a new uptrend, and has already moved above the psychological resistance at $70. With this newly established uptrend, which is getting stronger by the day, the short positions dominating the futures markets seem to be at risk of being liquidated.
SOL’s tokenized asset volume spikes when tradfi markets are dormant on weekends
Meanwhile, the token has been dominating the tokenized asset market as well. During the weekend when the traditional markets were dormant, Solana was blooming with tokenized asset volume, as the processed volume crossed above $200 million on Saturday alone, while on Sunday it processed a little over $204 million.
Solana solidifies its position as credible blockchain with MoneyGram as validator
Solana solidified its position in the market as a credible blockchain when MoneyGram, the world’s largest cross-border money transfer and payment company, became a validator for Solana.
For SOL holders, the immediate impact is more about sentiment and adoption than price. Institutional participation can strengthen the perception that Solana is becoming a credible blockchain for real-world financial applications. It may also encourage other enterprises to build on the network, potentially increasing transaction activity, network usage, and demand for SOL over time.
The partnership also expands Solana’s institutional footprint. If companies such as MoneyGram continue integrating Solana into payment and settlement infrastructure, it could drive greater utility for the network. More usage typically means more transactions, higher fee generation, and a stronger ecosystem, all of which are factors investors watch when evaluating the long-term value of SOL.
