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Analysis: Whales betting on $SOL puts due to impending SOL token unlock event As multi-billion dollars worth of Solana (SOL) will be unlocked in the near future, whales are betting on SOL puts on crypto options exchange Deribit, CoinDesk reported, citing data from Amberdata. Deribit recorded a sum of $32.39 million in SOL block trades last week, accounting for almost 25% of the total options volume. Block trades are typically associated with whale activity in the options market, that is, whales are trading primarily SOL puts to hedge against or profit from a potential decline in the SOL price. Greg Magadini, director of derivatives at Amberdata, noted that nearly 80% of the SOL block-trade volume was centered on put options. By contrast, there were only 40% puts for BTC and 37.5% puts for ETH during the same period. Lin Chen, Deribit's Head of Business Development for Asia, also underscored that the upcoming SOL token unlock event on March 1 will lead to significant selling pressure. By that time, 11.2 million SOL (2.29% of the total SOL supply) is scheduled to be unlocked, representing approximately 59% of SOL's daily spot trading volume. As a result, it is natural to see increased demand for SOL puts to hedge against further drops in the SOL price, Chen added.

🔥 BULLISH: A recent Bitwise Europe report predicts in 2030, Solana’s price will reach $2,318.90 in a bear case and $6,636.88 in a bull case.

The NFT market has rebounded despite crypto price weakness, with Bitcoin dipping to $96,000 and Ethereum unable to break past $2,700, hovering around $2,600. As per the latest CoinMarketCap, the global crypto market cap has dropped to $3.18 trillion from last week’s $3.24 trillion. According to CryptoSlam data, NFT sales volume has grown to $152.9 million, marking a 19.60% increase from the previous week. The market has seen expanded participation across all metrics. The weekly data reveals growing market activity: NFT sales volume rose to $152.9 million from $112.7 million NFT buyers increased 64.53% to 335,666 NFT sellers grew 49.30% to 237,123 NFT transactions climbed 4.73% to 1,574,998 Ethereum NFT sales jump Ethereum (ETH) NFT sales jumped 42.71% to $79.1 million, with buyers up 36.09% to 41,619. Wash trading increased 44.66% to $37.5 million. Bitcoin (BTC) took second place with $20.6 million despite a 26.59% drop. However, buyer numbers rose 40.65% to 23,097. Source: Blockchains by NFT Sales Volume (CryptoSlam) Mythos Chain held third with $15.4 million, up 4.25%. Solana (SOL) followed with $10.9 million, rising 13.86%, while Polygon (POL) rounded out the top five with $9.2 million, growing 23.35%. You might also like: Coinbase set to win SEC dismissal in ‘major win,’ analyst says Doodles claim second place DMarket maintained its lead with $10.2 million in sales, up 6.59%. The platform kept strong volume with 344,394 transactions and 24,012 buyers. Doodles claimed second place with $9.9 million, rising 32.80%. Pudgy Penguins moved to third with $8.8 million, bouncing back with an 83.01% increase and seeing transaction volume more than double. Courtyard held fourth with $8.2 million, up 23.52%, while LilPudgys entered the top five with $6.3 million, posting a 133.39% surge. Notable sales this week included: CryptoPunks #7685: $166,289 (60 ETH) CryptoPunks #3963: $139,515 (50 ETH) CryptoPunks #5774: $122,773 (44 ETH) CryptoPunks #9813: $121,059 (44.99 ETH) CryptoPunks #8046: $120,659 (44.69 ETH) Read more: Chart of the week: Maker gears to extend rally next week, 15% gains likely

🚨 #ZachXBT Unveils the Web 🚨 ZachXBT is linking the Bybit hack to Solana memecoin scams, exposing a tangled web of crypto chaos! 🕸️ 👀 Are we just scratching the surface of a much bigger story? #BybitHack #Solana #CryptoScams #ZachXBT #BlockchainSecurity #CryptoNews…

Altcoins are making a comeback this week! ✨ #Polkadot, #Cardano, and #Solana are showing promising signs of growth. 🔎 📊