As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / Deribit to introduce XRP, SOL, MATIC options

Deribit to introduce XRP, SOL, MATIC options

Publish Date: 10/10/2023
Stock Photo, tags: xrp, matic - cdn.pixabay.com

Stock Photo – cdn.pixabay.com

Options exchange Deribit, which controls over 85 percent of the market, is looking to expand the roster for options trading on its platform. The exchange will offer options on XRP, SOL and MATIC starting in January 2024.

Options are an asset class that gives the buyer the right to buy or sell an underlying asset at a specified price on or before a specified date. Options are among the most popular portfolios for traders since they allow them to speculate about an asset’s price in the future without any requirement to buy it.

Deribit announced its decision on October 9. This move comes amid the instability in the global crypto market and the uncertain regulatory landscape. Adding to it is the plunging trading volume in the derivatives market, from $2 trillion in January to around $1.5 trillion in September.

However, in a recent interview, Deribit chief commercial officer Luuk Strigers said this would not affect their expansion plan.

“Is this the best environment to launch new products, or should we defer? That’s what keeps us awake,” he said.

Stringers also expects high volatility in January 2024, the time when the exchange will launch options on the three tokens. Deribit takes this as an opportunity to further strengthen its reign as the top options exchange in the market. The new offerings are expected to boost liquidity in the market and help traders manage risks more effectively.

Co-founder of Digital Asset Capital Management Richard Galvin joins traders in expressing the benefits of altcoin liquidity.

“Volatility has been falling relentlessly for the last year or so,” said Galvin, as quoted by Bloomberg. “ … Ether is no longer really an effective hedge for a broader portfolio of cryptoassets given its relatively low volatility.”

Expansion to EU, Dubai

Despite having experienced high-profile incidents, Deribit is optimistic about its future development. It once suffered a $28 million hack on one of its hot wallets, which it compensated through its emergency reserve funds.

A year after the incident, Deribit seeks to expand its services in other lucrative regions. Along with the announcement of adding XRP, SOL and MATIC offerings, Deribit is also going public with expansion plans for the EU and Middle East.

The company is seeking a brokerage license in the EU, which is primarily motivated by the passage of the Markets in Crypto Assets (MiCA) regulations. The MiCA rule offers clarity for cryptocurrency operations in the region, with many countries pushing to become MiCA compliant before 2024. Although the announcement did not provide a particular time, according to analysts, Deribit will soon obtain the license.

Additionally, given Dubai’s recent crypto-friendly regulations, the Panama-based firm is working on a Middle Eastern office in the country. Deribit is also looking to increase its workforce by another dozen employees as part of the transition.

Deribit is also launching a zero-fee spot trading exchange to help boost its derivatives trading. Adding that the spot trading service will act as a gateway to the derivatives market, Deribit aims to become a comprehensive one-stop shop for everything crypto.

Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
Up to 27.5 Free Sweepstakes Coins + 57.500 Gold Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 55,000 Lucky Coins and 34 Sweeps Coins with first purchase
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75 million WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Latest News
Charles Hoskinson forecasts Altcoin season showdown: ADA vs. DOGE
Cardano (ADA) Faces Dual Meme Coin Competition where ...
Top 5 AI cryptocurrencies ready to thrive during the next bull market
New crypto ventures merge the groundbreaking capabilities of ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
Up to 27.5 Free Sweepstakes Coins + 57.500 Gold Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 55,000 Lucky Coins and 34 Sweeps Coins with first purchase
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75 million WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Go to Stake.us
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: CRYPTGAMBL
  • Play Stake Originals games for free
  • Get free Stake Cash daily just by logging in
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site