A massive options trade suggests a significant Solana (SOL-USD) rally could be on the horizon. Executed on Deribit via Paradigm, the block trade, revealed by Amberdata, predicts SOL could hit $400 by the end of February. The trade, structured as a bull call spread, involves buying $280 calls while selling $400 calls, with both legs expiring on Feb. 28. This setup shows confidence in SOL climbing 55% from its current $257 price.
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Greg Magadini, Amberdata’s Director of Derivatives, explained that profits max out if SOL reaches or surpasses $400. With institutional interest driving the trade, the move highlights bullish sentiment under Donald Trump’s presidency.
Memecoin Frenzy Boosts Solana Validators
Solana validators also raked in record profits, earning over 100,000 SOL ($25.8 million) in fees and tips during intense trading of TRUMP and MELANIA tokens. On Jan. 20 alone, validators collected 87,000 SOL as activity spiked on platforms like Meteora and Orca.
This surge temporarily raised staker yields to 7.14% annually while inflation rates dropped below 5%. With 1.5 million unique tippers among 4.5 million daily active users, Solana’s network saw unprecedented engagement.
Now, investors are waiting to see whether SOL can deliver on its lofty $400 target by February’s end. At the time of writing, Solana is sitting at $257.18.
