The crypto market has seen a downturn, with the CoinDesk 20 Index dropping 3.6% in the past 24 hours ahead of the U.S. core PCE inflation data release. Analysts are cautious as the report may influence Federal Reserve interest rate decisions. Despite this overall decline, open interest in SOL futures has soared to a record high of 63.84 million, reflecting strong interest in the asset. SOL's price has also rallied to $217, a level not seen since February. Meanwhile, application revenue for Solana has decreased 44% to $576.4 million, despite growth in its DeFi sector. While the DeFi total value locked (TVL) on Solana has seen an increase, daily trading volumes have dropped significantly, indicating a cooling sentiment in the market for Solana-focused applications. Other cryptocurrencies like Bitcoin and Ethereum are exhibiting varying trends in futures trading, reflecting differing investor sentiments.

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