Solana

Sphere

Polygon

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/deribit-introduces-xrp-and-polygon-to-crypto-options-trading-sphere" rel="noopener noreferrer nofollow">Deribit Introduces XRP and Polygon to Crypto Options Trading Sphere</a><br></p>
<p style="text-align: justify">In a notable expansion of its <a href="https://en.bitcoinhaber.net/bitcoin-bounces-back-k33-research-offers-hopeful-insights" rel="noopener noreferrer nofollow">cryptocurrency</a> offerings, Deribit, the leading derivatives exchange, has initiated options trading for <a href="https://en.bitcoinhaber.net/jds-bold-prediction-xrps-market-cycle-echoes-2017s-pre-rally-pattern" rel="noopener noreferrer nofollow">XRP</a> and Polygon’s native token MATIC. This development arrives on the heels of the exchange’s successful launch of options for the <a href="https://en.bitcoinhaber.net/bitcoin-and-altcoins-rally-on-etf-hopes-solana-and-xrp-in-focus" rel="noopener noreferrer nofollow">Solana</a> token, which spurred a significant price spike for SOL to a two-year high of $155.</p>
<h2 id="xrp-and-matic-options-leverage-usdc-settlement">XRP and MATIC Options Leverage USDC Settlement</h2>
<p style="text-align: justify">Starting March 12 at 13:00 TRT, Deribit commenced option trading for XRP and MATIC using USD Coin (USDC) as the settlement currency. The adoption of USDC seeks to streamline trading by offering investors more convenience and a diminished necessity for hedging, contrasting with the exchange’s traditional BTC and ETH inverse options that require the base currency as collateral.</p>
<p style="text-align: justify">Deribit’s CCO, Luuk Strijers, highlights the multiple benefits of utilizing USDC, such as ease of profit and loss accounting, reduced frequency of collateral adjustment across various cryptocurrencies, and an uncomplicated path for traders aiming to preserve a stable US dollar equivalent in their portfolios.</p>
<h2 id="market-sentiment-indicates-confidence-in-altcoin-rally">Market Sentiment Indicates Confidence in Altcoin Rally</h2>
<p style="text-align: justify">The initial enthusiasm for Solana options involved transactions for $180 calls, suggesting a market expectation of a 20% price uptick for SOL by March 29. SOL’s climb to $155 soon after options trading began illustrates the robust optimism for continued upward movement, as evidenced by the surge in open interest in Solana futures on various platforms.</p>
<p style="text-align: justify">Similar trends are observed with XRP, where initial trading activity included buying options for $0.74 and $0.9, paralleled by sell-offs at $0.69, indicating a trader consensus on a potential price rally to $0.9 by month-end. The high open interest in XRP futures further underscores the growing market interest in the asset.</p>
<p style="text-align: justify">For MATIC, trading patterns reveal purchases of options at three different strike prices: $1.2, $1.4, and $1.6, with strong open positions manifesting a more tempered market sentiment. Despite a marginal dip in MATIC’s price and futures market open interest, the asset continues to demonstrate resilience.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/deribit-introduces-xrp-and-polygon-to-crypto-options-trading-sphere" rel="noopener noreferrer nofollow">Deribit Introduces XRP and Polygon to Crypto Options Trading Sphere</a></h5>

Deribit Introduces XRP and Polygon to Crypto Options Trading Sphere

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