Solana

Block

Million

Polygon

Paradigm, a leading liquidity network for derivatives traders, has expanded its offerings to include linear altcoin options trading. This new initiative was inaugurated with a block trade in Polygon (MATIC) on the Deribit Exchange.&nbsp; 
The expansion includes options for MATIC, Solana (SOL), and XRP, providing direct payouts tied to the price movements of the underlying assets. 
Collaboration with Galaxy and QCP Group 
The successful launch of linear altcoin options trading was made possible through Paradigm’s collaboration with Galaxy, a digital asset leader, and QCP Group, a prominent digital asset market maker. This partnership aims to enhance liquidity and access for institutional crypto derivatives trading. Paradigm announced this development via a statement on its official X account. 
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 Paradigm expands into linear altcoin options trading by executing its first <a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@0xPolygon</a> (MATIC) block trade on <a href="https://twitter.com/DeribitExchange?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@DeribitExchange</a>, facilitated by <a href="https://twitter.com/tradeparadigm?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@TradeParadigm</a> in partnership with <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@GalaxyHQ</a> and <a href="https://twitter.com/QCPgroup?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@QCPgroup</a>. a thread 🧵 1/11 <a href="https://t.co/T7v67yV9NG" target="_blank">pic.twitter.com/T7v67yV9NG</a>— Paradigm (@tradeparadigm) <a href="https://twitter.com/tradeparadigm/status/1790004139851739430?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 13, 2024</a>
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First Block Trade and Market Implications 
Paradigm marked its entry into the linear altcoin options market with a block trade involving 500,000 units of MATIC Call Spreads. The trade, with strikes at $0.80/$0.95 expiring on May 31, set a new industry benchmark and contributed to the liquidity of the market. 
Luuk Strijers, CEO of Deribit, expressed enthusiasm over the new offerings, anticipating inaugural blocks in SOL and XRP. 
Darius Sit, Founder of QCP, praised the launch as a step toward financial innovation in the options space. Jason Urban, Galaxy’s Global Head of Trading, also noted the potential for increased liquidity and opportunities.&nbsp; 
Additionally Anand Gomes, Co-Founder of Paradigm, emphasized the growth and yield enhancement opportunities the new market will bring to traders. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read:<a href="https://www.cryptotimes.io/2024/04/09/paradigm-leads-investment-charge-with-225-million-in-blockchain-venture/" target="_blank" rel="noreferrer noopener"> Paradigm Leads Investment Charge with $225 Million in Blockchain Venture</a> 
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Paradigm Introduces Linear Altcoin Options with MATIC Block Trade on Deribit

The Crypto Times

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