Deribit Exchange Sees Surging Demand for SOL $200 Calls as Solana Outperforms Bitcoin

BTCC / BTCC Square / Global Cryptocurrency /

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2025-05-12 10:22:17

Deribit exchange News -

Solana’s SOL token has surged 85% since April 7, significantly outpacing Bitcoin’s gains during the same period. The cryptocurrency is currently trading near $176 as risk appetite returns to both crypto and traditional markets.

Block traders—typically institutions executing large OTC orders—are positioning for further upside. Heavy buying of Deribit-listed June $200 call options indicates strong expectations for SOL to break through that level by late June.

The rally underscores Solana’s resurgence as Ethereum’s primary competitor, with its high-throughput blockchain attracting renewed developer activity and institutional interest. SOL’s 85% gain versus Bitcoin’s 40% highlights the altcoin’s leverage in bullish market conditions.

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