Solana predicts growth to $ 400

A client of the OTC Paradigm platform has made a large deal with options on the cryptocurrency Solana SOL $249.61 Solana -6.82% Market capitalization $121.45 billion VOL. 24 hours $1.66 billion , which could bring profit if its price rises above $ 400 by February 28. The investor opened a bullish call spread strategy, which includes buying a call option with a strike price of $ 280 and selling another call with a strike price of $ 400, CoinDesk writes.

This strategy is most effective when the price of the underlying asset reaches or exceeds $ 400. Thus, the trader is betting on a 55% increase in the price of Solana from the current level of $ 257 in less than a month. Amberdata’s director of derivatives noted that the breakeven point for this transaction is $ 300.

The transaction took place against the backdrop of Coinbase CEO Brian Armstrong’s statements about plans to actively develop the Solana ecosystem. At the time of the transaction, Solana reached a historic high of $ 270, which was made possible by the launch of the TRUMP memo token, followed by the MELANIA memo token the next day.

As a result of the high on-chain activity, Solana users faced network overload.

In addition, the deadline for the SEC’s preliminary decision on Solana-ETF applications submitted by companies such as VanEck, 21Shares, Canary, Bitwise, and Grayscale is approaching. Analysts predict that the product will be launched by the end of 2025, and according to JPMorgan, spot funds based on Solana and XRP can attract up to $ 6 billion in investments within six months after the launch.