Solana Derivatives Volume Tops $20 Billion as SOL Struggles Below $85

Solana (SOL) is printing record on-chain derivatives volume—an unmistakable sign of growing activity across its trading stack—but the token is still struggling to hold the mid-$80s as traders run into stubborn technical resistance.

As of May 20 at 10:58 p.m. ET, SOL was changing hands at $83.89, down 1.05% over the past 24 hours. Its market capitalization stood at roughly $48.47 billion, keeping it in seventh place among cryptocurrencies by market value. Spot trading volume over the same period fell 23.65% to about $2.70 billion, suggesting near-term volatility has cooled even as derivatives…  Read more

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