bitFlyer said it will launch Solana trading on June 24, allowing users in Japan to buy and sell SOL directly on the exchange. After the announcement, SOL rose 6.48% over the last 24 hours to around $73, with its weekly gain reaching roughly 10%.
bitFlyer adds direct SOL trading
In its statement, bitFlyer described Solana as a blockchain built on a Proof of Stake consensus model and supported by its Proof of History design, which the exchange said helps deliver higher throughput. The company also pointed to Solana’s fast and low-cost network as a base for a wide range of applications.
Founded in 2014, bitFlyer is one of Japan’s largest crypto exchanges. The listing gives Solana a new point of access in the Japanese market and could increase the asset’s visibility and trading liquidity there. The announcement was simple. The market reaction was immediate.
Price rally comes with mixed derivatives signals
The move in SOL came during a broader recovery across the crypto market. The report said Bitcoin traded above $65,000 during the same period, offering support for major tokens. Analysts cited in the source said the latest rise may be linked less to fresh spot demand and more to short covering.
Derivatives data reflected that tension. Solana’s total futures open interest increased by about 10% in the past 24 hours to $42.02 billion. At the same time, the funding rate in perpetual futures remained negative, a sign that short sellers were still influential or that traders were approaching the market with caution.
Higher open interest, negative funding rate
That combination leaves a split picture. More positions are being opened, yet the cost structure in perpetuals has not shifted in favor of longs. Traders appear active, but conviction is not one-sided.
Based on the available figures, Solana’s latest jump was shaped by both spot-market attention and liquidations in derivatives. The bitFlyer listing adds a clear exchange catalyst in Japan, while the negative funding rate shows the rally has not erased caution from the market structure.