Solana Whales Bet on Price Drop: Put Options Spike Before Token Unlock
- An upcoming Solana token unlock has triggered a reaction from whales.
- SOL whales are betting on Put Options for safety.
- Deribit recorded $32.39 million in SOL block trades last week.
An upcoming Solana token unlock event has triggered a reaction from SOL whales, who are taking positions to protect themselves from potential losses. According to reports, several big Solana holders are placing bets on SOL put options in the options market, acting as insurance against a potential Solana price slump.
Crypto options exchange Deribit reportedly saw a significant $32.39 million in SOL block trades last week. That’s nearly 25% of their entire options volume! Market watchers say these large block trades are a tell-tale sign of whale activity in the options market.
It means these major players are trading SOL options to either protect themselves or profit from a possible downturn in Solana’s price.
Put Options Dominate Whale Strategy for Solana
Meanwhile, data from Amberdata, a platform providing blockchain network insights, shows that whales funneled almost 80% of their SOL block trades into Put Options.
To put this in perspective, Put Options only accoun…
The post Solana Whales Bet on Price Drop: Put Options Spike Before Token Unlock appeared first on Coin Edition.
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Solana Whales Bet on Price Drop: Put Options Spike Before Token Unlock
- An upcoming Solana token unlock has triggered a reaction from whales.
- SOL whales are betting on Put Options for safety.
- Deribit recorded $32.39 million in SOL block trades last week.
An upcoming Solana token unlock event has triggered a reaction from SOL whales, who are taking positions to protect themselves from potential losses. According to reports, several big Solana holders are placing bets on SOL put options in the options market, acting as insurance against a potential Solana price slump.
Crypto options exchange Deribit reportedly saw a significant $32.39 million in SOL block trades last week. That’s nearly 25% of their entire options volume! Market watchers say these large block trades are a tell-tale sign of whale activity in the options market.
It means these major players are trading SOL options to either protect themselves or profit from a possible downturn in Solana’s price.
Put Options Dominate Whale Strategy for Solana
Meanwhile, data from Amberdata, a platform providing blockchain network insights, shows that whales funneled almost 80% of their SOL block trades into Put Options.
To put this in perspective, Put Options only accoun…
The post Solana Whales Bet on Price Drop: Put Options Spike Before Token Unlock appeared first on Coin Edition.
Read More