Deribit Expanding with XRP, SOL, and MATIC Options
Cryptocurrency exchange Deribit has announced its plans to launch linear options for Ripple (XRP), Solana (SOL), and Polygon (MATIC) in January. The exchange aims to target European markets and expand its derivatives trading offerings. Deribit also revealed its intention to apply for a brokerage license in the European Union (EU). Luuk Strijers, the CCO of Deribit, stated that the European region provides the best environment for launching new products.
Benefits of Adding More Options
Crypto derivative trading volumes have declined due to falling prices and uncertainty in the sector. Richard Galvin, Co-Founder of Digital Asset Capital Management, believes that offering more options involving alternative coins could benefit cryptocurrency exchanges. Deribit previously introduced a zero-fee spot trading platform focused on derivatives, with the aim of generating revenue primarily through derivatives trading.
XRP’s Popularity Despite Price Consolidation
Despite price fluctuations, XRP remains popular for payments. Companies like HSBC allow eligible clients to pay mortgages and loans using various cryptocurrencies, including XRP. Additionally, XRP became the top trending token after Ripple secured another victory against the US SEC. According to ChatGPT, a decisive win in the upcoming trial and other factors could potentially trigger a new bull run for XRP.
Hot Take: XRP’s Potential Bull Run
With Deribit’s plans to launch XRP options and its ongoing popularity for payments, XRP may be on the verge of a significant price surge. Legal victories against the US SEC have boosted investor confidence, indicating a potential bullish trend for the cryptocurrency. As market conditions continue to evolve, it will be interesting to see how XRP performs and whether it can sustain its upward momentum.
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