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Delta Exchange launches options trading for Solana and Cardano

Crypto derivatives platform Delta Exchange announced on Wednesday that it has launched futures trading on Solana (SOL) and Cardano (ADA), offering investors a new access point to major altcoins.

The initial launch of the SOL and ADA call and put options will have daily expirations, with weekly and monthly expirations available at a later date, Delta said.

Options give owners the right, but not the obligation, to buy or sell a specific security at a specified price within a predefined time frame. Call and put options are widely used in traditional markets, but have become more prevalent in cryptocurrency markets.

Delta Exchange already offers options trading for Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcashpay (BCP), and Binance Coin (BNB). As Cointelegraph reported, the derivatives exchange launched several options products in mid-2020.

The crypto derivatives market has grown exponentially this year, with traders defying regulatory crackdown from global financial authorities.. Cryptocurrency exchange Binance recently announced that it was restricting derivatives trading for Hong Kong users amid local pressures. In the United States, officials from the Commodity Futures Trading Commission have expressed support for a greater compliance with the laws of derivatives based on cryptocurrencies.

After a hiatus in the middle of the summer, options trading recovered significantly in August as the cryptocurrency markets made a huge rally. By mid-August, open interest in Bitcoin options had more than doubled from its annual low set in late June.

Research by CoinMarketCap determined that as of December 2020, derivatives accounted for 55% of the global cryptocurrency market. The growth of platforms such as FTX, Bybit and Delta suggests that derivatives may represent a larger percentage of the global market.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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