As we roll toward the weekend, major cryptocurrencies are showing interesting moves despite sideways price action. The real story lies beneath the surface—open interest numbers are climbing across the board.

Bitcoin's open interest has reached $36.5B, marking an impressive 20.8% gain year-to-date. Ethereum isn't far behind with $17.2B in open interest, up 15.5% since the start of the year. But here's what caught attention: Solana's open interest sits at $3.7B, which represents a 29.5% YTD surge—outpacing both BTC and ETH in percentage terms.

What does this mean? Rising open interest amid sideways trading typically signals growing leverage positioning and increased market participation. Traders are building positions ahead of potential volatility, suggesting conviction despite the current price consolidation. Keep an eye on these metrics as they often precede significant market moves.