$WIF ‼️‼️‼️Major Solana Holders Bet on Decline Through Options

On the Deribit exchange, which accounts for up to 85% of the total trading volume in cryptocurrency options, there has been an increase in activity betting on the decline of the Solana (SOL) price. Major players are actively buying put options — contracts that give the right to sell SOL at a fixed price. This allows for either hedging against a drop in the asset's value or profiting from a decline.

In the past week, the volume of large over-the-counter options trades with SOL on Deribit exceeded $32 million (almost 25% of the total options turnover for Solana at $130.74 million). This is the second largest figure in the platform's history. Most of the trades involved put options.