SOL tokens are up 15% in the past two weeks and are among the best-performing major tokens. Levered bullish bets make a bulk of futures open interest for SOL, data shows, but may create a long squeeze event. Bets on futures tracking Solana’s SOL have risen to a lifetime peak of $1.7 billion in the past week, with bulls leading the charge. Notional open interest – or the dollar value locked in the number of unsettled futures contracts – has risen over $700 million since the start of February to $1.7 billion, with $400 million added since Feb.8. This exceeds the $1.4 billion figure set in late December, the previous record when the ecosystem saw a meme coin-led frenzy.
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