Solana, Expected to Hit $100... Derivatives Funding Explodes Ahead of Upgrade

▲ Solana (SOL)

Solana (SOL) showed strong movements simultaneously in both price and the derivatives market ahead of its Alpenglow upgrade. Solana rose 3.90% in the last 24 hours, reaching $88.80, and also increased by 10% on a weekly basis. With open interest and trading volume surging, market attention has shifted to the possibility of breaking through $100.

CoinGape reported on May 6 that Solana is pushing for the Alpenglow upgrade as early as next quarter. Solana co-founder Anatoly Yakovenko described Alpenglow as a significant milestone in Solana blockchain development during a panel at Consensus Miami 2026. Yakovenko stated that the upgrade would enhance transaction validation capabilities across the network, mentioning a release “before the end of this year” and adding that a launch in the next quarter is possible if development proceeds smoothly.

The Alpenglow upgrade focuses on improving transaction finality and validation reliability. Yakovenko outlined a direction to make validation times closer to actual data transmission capabilities. The core goal is to enhance network efficiency in large-scale financial application environments and provide more consistent transaction validation times even during periods of increased network activity.

In the derivatives market, Solana's buying pressure was confirmed by numbers. According to Coinglass data, trading volume increased by 78.75% to $12.92 billion in recent sessions. Open interest grew by 10.03% to approximately $5.55 billion across exchanges. Options trading saw the largest increase, surging by 194.40% to $17.72 million.

Technical indicators also supported Solana's short-term upward trend. The Relative Strength Index (RSI) rose to approximately 71, indicating strong buying activity, and the Moving Average Convergence Divergence (MACD) on the 4-hour chart formed a bullish crossover. The expansion of the green histogram also showed positive momentum. A short-term resistance level formed around $92, and if buying pressure clearly breaks past this level, the next target areas are suggested to be $96 and $100. Conversely, if the $85 support level breaks, a deeper correction to $80 could follow.

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