隨著鯨魚進行看跌賭博

Deribit的Solana Sol代幣的期權市場已經變得活躍，隨著令牌價格繼續下降，鯨魚進行了看跌賭注

Solana (SOL) options traders are showing a strong preference for bearish bets as the token's price continues to slide ahead of an impending multi-billion dollar unlock.

Solana（Sol）期權交易員表現出對看跌賭注的強烈偏愛，因為代幣的價格繼續在即將達到數十億美元的Unlock上下滑。

According to Amberdata, block trades totaling $32.39 million in notional SOL options value crossed the tape on Deribit last week. This represents nearly 25% of the total options activity of $130.74 million on the platform during the same period. The remaining activity, known as screen trades, were much lower at $98.35 million.

根據Amberdata的數據，Block交易總計3239萬美元的名義SOL選項價值上週在Deribit上跨越了磁帶。在同一時期，這佔該平台上1.3074億美元的總期權活動的近25％。其餘的活動（稱為屏幕交易）低得多，為9835萬美元。

This marks the second-highest proportion of block trades to total activity on record. In the previous week, there were almost no block trades in SOL options on Deribit.

這標誌著塊交易中第二高的比例與記錄的總活動。在上一周，deribit上的SOL選項幾乎沒有塊交易。

A "block trade" in options refers to a significant, privately negotiated options transaction between two parties involving a large number of contracts. Such trades, typically associated with whale activity, are executed over-the-counter and outside the regular order book and then booked on the exchange, allowing for a minimal impact on the market prices.

期權中的“阻止貿易”是指涉及大量合同的兩方之間的重要，私人協商的期權交易。這種交易通常與鯨魚活動相關，是在常規訂單簿中執行的，然後在交易所預訂，從而對市場價格產生最小的影響。

Options are derivative contracts that give the purchaser the right but not the obligation to buy or sell the underlying asset, in this case, SOL, at a preset price on or before a specific date. A call option gives the right to buy, while a put option provides the right to sell. On Deribit, which accounts for over 85% of the global crypto options activity, one options contract represents 1 SOL.

期權是衍生合同，賦予購買者的權利，但沒有義務以特定日期或之前的預設價格購買或出售基礎資產。呼叫選項賦予購買權，而看跌期權則提供了出售權。在deribit上，佔全球加密貨幣期權活動的85％以上，一個選項合同代表1 sol。

Last week's spike in SOL block trades featured a preference for put options, which traders use to hedge against or profit from a potential price slide.

上週在SOL Block交易中的高峰偏愛PUT選項，交易者用來對沖或從潛在價格下滑中獲利。

"Nearly 80% of the block-trade volume was concentrated in put contracts. Compared to only 40% puts for BTC and 37.5% puts for ETH during the same timeframe," said Greg Magadini, director of derivatives at Amberdata.

Amberdata的衍生產品總監Greg Magadini說：“塊貿易量的近80％集中在POT合同中。相比之下，在同一時間範圍內，BTC僅有40％的投票權，而ETH的37.5％投票則為ETH。”

The whale demand for put options comes as SOL's outlook appears grim following the 46% price slide to $160 in just over five weeks. The activity on the Solana blockchain, which became a go-to-place for memecoin traders last year, peaked with the launch of the TRUMP token on Jan. 17, three days before Donald Trump was inaugurated as the President of the U.S.

鯨魚對PUT選項的需求是因為Sol的前景在短短五週內的46％價格下跌至160美元之後顯得嚴峻。去年，索拉納區塊鏈的活動成為了Memecoin交易員的一項活動，這是在1月17日的特朗普代幣推出的三天前，在唐納德·特朗普（Donald Trump）擔任美國總統之前的三天達到頂峰。

Since then, the number of daily transactions on Solana and the cumulative daily volume on the Solana-based decentralized exchanges has declined significantly, according to data source Artemis. That has weakened the bullish case for SOL.

根據數據源Artemis的數據，從那時起，關於Solana的每日交易數量以及基於Solana的分散交易所的累積每日交易的數量已大大下降。這削弱了對SOL的看漲案件。

Plus, the impending SOL token unlock on Jan. 1 presents a significant headwind, per Deribit's Asia Business Development Head Lin Chen.

另外，根據Deribit的亞洲業務發展主管Lin Chen，即將來臨的SOL令牌在1月1日解鎖。

"Solana SOLUSD will have a major token unlock event on March 1, releasing 11.2 million SOL tokens, valued at approximately $2.07 billion. This represents 2.29% of the total supply. A significant portion of the unlock comes from the FTX estate and a foundation sale," said Chen.

“ Solana Solusd將於3月1日舉行一次重大的令牌解鎖活動，發布了1,120萬個SOL令牌，價值約為20.7億美元。這是總供應總額的2.29％。解鎖的很大一部分來自FTX房地產和基金會銷售。”陳說。

According to Deribit data, SOL options activity is also interesting with a lot of hedging flow observed in anticipation of the token unlock.

根據Deribit數據，SOL選項活動也很有趣，因為預期令牌解鎖時觀察到了許多對沖流。

"We can see that a large part of the tokens will flow into the market, and this volume of tokens is nearly 59% of SOL's daily spot trading volume. Hence, it's natural to see a lot of hedging flow in put options,” explained Chen.

“我們可以看到，代幣的很大一部分將流入市場，這一卷代幣佔SOL每日現貨交易量的近59％。因此，很自然地看到Prot Options中的大量對沖流。”陳。

"Many traders would also take this opportunity to long Vol[atility] to generate good yield," he added.

他補充說：“許多交易者還將藉此機會（長期勞動）產生良好的收益率。”