Deribit, the leading crypto options exchange controlling 86% of the crypto derivatives market according to Bloomberg, is set to introduce options contracts for XRP, Solana (SOL), and Polygon (MATIC). This expansion into altcoin options contracts is a significant development in the rapidly changing crypto market and will cater to a broad spectrum of crypto traders.
The new linear options offer a simple payout structure, making trading more accessible for both experienced and novice participants. The introduction of these contracts could notably alter XRP's pricing dynamics and intensify competition with other major exchanges such as OKX, Binance, and Bybit.
Despite recent dips in volatility, Luuk Strijers, the CCO of Deribit, anticipates a surge in activity following the January launch of these new contracts. Strijers also highlighted the influence of quarterly expiries on contract volumes and values, suggesting potential increased volatility for XRP, which is currently trading at $0.4994.
In addition to expanding its product offerings, Deribit is also planning a strategic move to Dubai after obtaining the necessary licenses. This decision is driven by Dubai's reputation as a crypto-friendly jurisdiction. The company also intends to increase its workforce by approximately a dozen employees as part of this transition.
As part of its commitment to maintaining high standards of transparency and governance, Deribit is actively seeking an EU brokerage license. The company's move towards regulatory compliance further strengthens its position in the market. Furthermore, the launch of a zero-fee spot trading exchange will enhance Deribit's reputation as a comprehensive one-stop shop for crypto trading.
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