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Deribit Crypto Exchange Introduces XRP Options Trading

Deribit introduces XRP options, expanding offerings with linear options for MATIC and SOL.

Jay Hicks



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Deribit, the significant name in the crypto derivative exchange market, announced Ripple (XRP) options trading earlier today. Deribit is expanding its offerings by incorporating the linear options for Polygon (MATIC), Ripple (XRP) and Solana (SOL). This recent support of the Deribit cryptocurrency exchange for XRP options trading was disclosed through media on 8th February 2024.

In cryptocurrency derivatives trading, Deribit uses the term “linear options” to describe a specific type of options contract. These contracts have a direct relationship between the option’s price movement and the price movement of the underlying asset, like Solana (SOL), Ripple (XRP), or Polygon (MATIC).

Linear options follow the price of the underlying cryptocurrency straightforwardly, unlike non-linear derivatives such as traditional options. These non-linear options can have complex relationships affected by factors like volatility, time decay, and the option’s strike price. Linear options simplify this relationship, making it easier for traders to understand and predict potential profit or loss.

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Linear options on Deribit allow traders to predict future price changes of altcoins or protect their investments, directly tied to the assets’ actual price movements. This simplifies options trading, making it easier for traders in the unpredictable crypto market.

Deribit’s Chief Commercial Officer, Luuk Strijers, explained via email to The Block why they expanded altcoin options. The addition of SOL, MATIC, and XRP responds to increased client interest, showing Deribit’s strategic decision to meet the market’s demand for more cryptocurrency derivatives.

On October 9, 2023, Deribit announced plans to support cryptocurrency traders worldwide with new linear options for SOL, XRP, and MATIC.

The Block recognized Deribit’s impressive growth. In January, the exchange had its best performance since May 2021, with a turnover of $83.3 billion. Furthermore, The Block pointed out that Deribit broke records in January.

The platform saw the highest number of corporate accounts trading in a month and a notable increase in individual retail traders since December 2021.  This increase in both corporate and individual traders shows that more people are finding Deribit’s platform and services attractive.

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