Sharp gains in alternative cryptocurrencies could define the year-end, with SOL, XRP, and TRUMP poised to lead the charge, crypto options and derivatives platform PowerTrade said Tuesday.
“Traders were placing bets for altcoin season running into year-end with strong upside call activity for end-of-December expirations in AEVO, AR, DOGE, ENA, HYPE, LINK, MOG, PAXG, SOL, TIA, TRUMP and ZRO,” Bernd Sischka, Co-Founder and Chief Commercial Officer at PowerTrade told CoinDesk, explaining the market flows in August.
The platform registered a cumulative trading volume of over $1 billion in August – with call options making up roughly 68% of total trades—an unmistakable sign that investors are leaning towards upside plays rather than protective hedges. A call option gives the holder the right, but not the obligation, to purchase the underlying asset at a predetermined price on or before a specific date, representing a bullish bet on the market.
Solana stood out again, attracting heavy call buying in September and December expirations, with strike prices set well above current levels. Traders appear confident that the native token of the Solana blockchain will chalk out a breakout rally in the fourth quarter.
Meanwhile, XRP experienced unusually large block trades in the December expiry calls, suggesting growing optimism around potential regulatory clarity or ecosystem developments. In a quirky twist, traders took massive call spreads in TRUMP options, anticipating a volatility boom.
Meme coins like dogecoin and pepe drew mostly retail interest, but tokens like WIF witnessed rising open interest, signaling that institutional investors are quietly building positions, especially in more established altcoins.
The platform emphasised that institutions are playing a larger role, engaging in block RFQs (request-for-quotes) on bitcoin and ether volatility, as well as sizable altcoin trades that combine hedging and speculative bets. “With Fed policy steady and liquidity returning, stars are aligning for a monster altseason end of year,” it said.
Broadly speaking, PowerTrade’s report revealed growing speculation in the broader market, extending beyond bitcoin and ether, with both retail and institutional participants preparing for significant gains in altcoins in the coming months.
While PowerTrade’s overall trading volume remains significantly smaller compared to industry giant Deribit, it distinguishes itself by offering options tied to smaller altcoins. This specialization allows traders to hedge their exposure and capitalize on price movements in these more volatile, less widely covered tokens, an opportunity often not available on larger platforms.