Bitcoin Open Interest Stands at $7.68 Billion as Solana Open Interest Drops 4.25%

Solana (SOL) posted the steepest open-interest decline among five major crypto assets Saturday, while it and Bitcoin (BTC) shared the group’s highest funding rate in a 7 a.m. ET snapshot. Solana open interest stood at $929.5 million, down 4.25% over 24 hours. Bitcoin’s was $7.68 billion, a 0.69% decline. Both assets had funding rates of 0.0035% every eight hours, equivalent to 3.8% annualized. The snapshot was taken at 7 a.m. ET (11:00 UTC) Saturday, Oct. 17. All five assets had positive funding rates. In perpetual futures, traders with long positions pay traders with short positions when the funding rate is positive. Ether (ETH) had a mark price of $2,439 and $5.52 billion in open interest, down 0.58%. Its funding rate was 0.0023% every eight hours, or 2.5% annualized.

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