Popular cryptocurrency exchange Binance has just rolled out two new Ethereum and XRP options contracts, which, just like Bitcoin options, will initially only be available through the exchange's mobile app.
The exchange started to offer Bitcoin options in mid-April. These new ETH and XRP options contracts are available for an expiry date of 10 minutes, 30 minutes, 1 hour, 8 hour and 1 day. The maximum contract size per order is 200 ETHs and 200,000 XRPs, respectively. The strike price is the last price of the corresponding contract at Binance Futures.
Binance has said that on April 20 the trading volume of its Bitcoin options reached $295M, and the day after the launch of this new investment instrument, this indicator exceeded that of its closest competitors.
Binance's representatives claim the current options offers available in the crypto market lack liquidity, especially in the case of contracts far out-of-the-money. Binance has solved this problem by reducing the contracts available to an expiry date of 1 day.
The popular crypto exchange is constantly improving its services and offering new features. For instance, at the end of last month it was reported it had launched its own mining pool, while it was also known it had launched an Africa-focused social payments crypto app.
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