Solana futures trading on the Chicago Mercantile Exchange (CME) launched quietly, generating $12.3 million in notional trading volume and ending with $7.8 million in open interest. This performance was significantly lower than that of Bitcoin and Ethereum during their respective launch periods, according to K33 Research. Bitcoin futures debuted in December 2017 with nearly $103 million in trades, while Ethereum futures started in early 2022 with $31 million. Despite the initial underwhelming figures, K33's Head of Research, Vetle Lunde, noted that when adjusting for market capitalization at launch, Solana's figures align more closely with those of Bitcoin and Ethereum. The launch occurs amidst a broader market downturn and a slump in the price of Solana, which was trading around $125, more than 8% down from its weekend high and less than half its all-time high from late January. Lunde emphasized the different market conditions today compared to past launches, which might have influenced the futures performance.

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