Solana’s Momentum May Drive SOL Past $200 by End of June, According to Block Desk Analysts

Institutions Bet on Solana’s Summer Surge as $200 Options See Heavy Action

Solana’s powerful rally is drawing institutional attention, with block traders aggressively positioning for a continued breakout beyond $200 by late June.

SOL has surged 85% over the past month, reaching $176 amid a broad-based crypto uptrend. The move has outpaced Bitcoin’s 40% gain and captured the interest of sophisticated options traders.

Deribit data shows heavy accumulation of the $200 strike call options expiring June 27 — a clear signal that traders expect Solana’s rally to continue. According to Amberdata’s Greg Magadini, one of last week’s largest trades involved 50,000 contracts, purchased for a combined premium of $263,000.

“These were scooped up at an IV of 84%, which is relatively low for SOL,” Magadini said. “It reflects smart positioning during a period of cheaper volatility.”

Such concentrated call buying has left market makers with a negative gamma position — typically requiring them to buy more SOL as it rises, potentially increasing volatility and fueling further gains.

With strong momentum, favorable macro conditions, and continued ETF inflows, Solana could be primed to challenge $200 in the coming weeks.