Solana (SOL) Open Interest Data Paints Bullish Picture

Solana (SOL) drops 1.9%, but open interest data hints at comeback

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After the collapse of FTX, the exchange explored enough avenues through which it could free up funds to repay its creditors and users. As one of the largest holders of Solana and other altcoins, the firm got the approval to auction out these tokens. Firms like With sell-off fears set aside, market analysts believe Solana can now be allowed to face pricing based on natural demand and supply forces. This is likely to provide an intense upside to the coin as it is considered by many as undervalued.

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