Delta Exchange Introduces Options Trading for Cardano and Solana
Delta Exchange, the crypto derivatives company, revealed to the public that it had introduced futures trading on both Cardano (ADA) and Solana (SOL). Doing so would provide investors with a new access point when it comes to these rapidly-developing altcoins.
The original rollout of ADA and SOL call and put options will constitute daily maturities, although maturities for weekly and monthly timeframes will also be provided, albeit a little later.
Options offer purchasers the right but not the responsibility to trade a security at a given price within a specific timeframe. Call and put options are particularly common in traditional markets, but they’re gaining a lot of traction in the crypto world as well.
Before this debut, Delta Exchange had already made options available on their other crypto platforms including Ether (ETH), Bitcoin (BTC), Bitcashpay (BCP), Binance Coin (BNB) and XRP (XRP).
Based on Cointelegraph’s report, Delta introduced multiple options products in mid-2020.
The crypto derivatives sector has had a particularly good year in 2021. Its growth has increased exponentially with traders disregarding regulatory cautions from financial authorities around the world.
Not so long ago, Binance, the cryptocurrency exchange, made it known that it would be limiting derivatives trading to only users based in Hong Kong.
In the U.S., several Commodity Futures Trading Commission representatives have given their opinions regarding the widespread enforcement on the crypto derivatives.
Following a mid-summer break, options trading resumed in August. Meanwhile crypto markets were staging a remarkable rebound.
By the time we were halfway through that month, the open-interest in Bitcoin options had increased by more than two-folds from their annual low set towards the end of June.
Last year, CoinMarketCap revealed that derivatives constituted upto 55% of the total cryptocurrency market. With the expansion of platforms, such as Delta, FTX and Bybit, there’s no doubt that derivatives will make up a bigger portion of the market this year.