Solana’s $1,000 Price Target in View as Open Interest Hits $13B

- Futures open interest surges to $13 billion as SOL tests key resistance. - Major Alpenglow upgrade boosts Solana’s transaction speed 85x. On September 3, 2025, Cointelegraph reported that Solana’s technical setup and a record-high $13.68 billion futures open interest signal a possible rally toward $1,000. This rally depends on SOL breaking the critical resistance zone between $210 and $250. Key chart patterns, including a megaphone and a cup-and-handle formation, also indicate bullish momentum, prompting traders to speculate on further gains. The record open interest underscores strong confidence in Solana’s future price action. This surge coincides with the "Alpenglow" upgrade, which dramatically improves network speed and efficiency. The upgrade reduces transaction finality from over 12 seconds to approximately 150 milliseconds. However, despite these promising developments, on-chain metrics reveal potential obstacles to sustained growth. Over the last 30 days, Solana’s transaction counts and active wallet addresses have declined, while weekly trading volumes on its decentralized exchanges have also fallen significantly. These trends raise questions about long-term network usage and its impact on sustained price momentum. According to CoinMarketCap, as of 16:15 UTC on September 3, Solana (SOL) was trading at $211.218, reflecting a 4.862% increase in 24-hour trading volume.