Funding rates across Solana derivatives have remained marginally positive, pointing to a light bullish tilt in positioning. However, this bias is noticeably restrained, lacking the aggressive leverage typically seen during strong upside expansions.
Data from Coinalyze suggests that traders are comfortable maintaining current exposure but remain unconvinced about an imminent breakout. While ETF inflows continue at a steady pace, derivatives markets tell a different story, with speculative participation staying muted. This divergence highlights a market that is patient rather than confident.
In short, long-term interest appears intact, but short-term conviction is still missing.
Final Thoughts on Solana
Solana ETFs attracted roughly $23 million over the past week, even as price action remained under pressure. This pattern points toward accumulation during weakness rather than momentum chasing. The contrast between ETF demand and flat derivatives activity suggests investors may be positioning with a longer horizon in mind.
Up next, Ethereum faces a similar test of conviction after a sizable whale sale. The question is why ETH price stability held firm instead of breaking down.
