$WIF Large holders of Solana bet on decline through options

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

Over 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 of Solana at $130.74 million). This is the second-largest figure in the history of the platform. Most of the deals involved put options.