Deribit Exchange Sees Heavy Buying of SOL $200 Calls as Traders Bet on Continued Rally

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2025-05-12 10:23:14

Deribit exchange News -

Solana’s native token SOL has surged 85% since April 7, more than doubling Bitcoin’s gains during the same period. The rally accelerated this week as risk appetite returned to crypto and traditional markets, pushing SOL to $176.

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

The momentum reflects Solana’s resurgence as a favored blockchain for decentralized applications and institutional interest. While Bitcoin rose 40% in the same period, SOL’s outperformance highlights altcoins capturing greater speculative interest during market recoveries.

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

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