Deribit Exchange Sees Surging Demand for Solana (SOL) $200 Calls as Price Nears Breakout

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-12 11:53:14

Deribit exchange News -

Solana’s native token SOL has outperformed Bitcoin with an 85% rally since April 7, reaching nearly $176 amid broad market optimism. Institutional traders are doubling down on the momentum, with Deribit data showing strong demand for June $200 call options—a bullish bet that SOL will surpass that level by late June.

The largest block trade last week involved 50,000 contracts purchased for $263,000 in premium, indicating strong conviction in further upside. Notably, these positions were initiated when SOL’s implied volatility was at a relatively modest 84%, suggesting traders anticipate explosive moves without excessive hedging costs.

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