Binance Adds XRP Options, Expanding Coin's Liquidity

News
Mon, 05/25/2020 - 07:35
Yuri Molchan
The largest crypto trading platform Binance has added XRP and ETH options, giving traders more tools to earn profits
Cover image via stock.adobe.com

The Binance exchange, run by Changpeng Zhao (or simply CZ), has expanded the use of the (currently) fourth largest cryptocurrency XRP and the second most popular coin ETH on its platform.

A few hours ago, Binance spread the word that XRP and ETH contracts have now been added to Binance Options.

Now Binance users can take advantage of these new tools for XRP and ETH option trading.

The exchange blog says that compared to traditional types of trading options, Binance Options offer traders a shorter time-frame, which ranges from 10 minutes to one day.

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Crypto options appeared only a few months ago this year. However, they are becoming popular among traders.

Earlier, U.Today reported that Bitcoin options open interest had surged to 100,000 BTC (that’s nearly $900 mln) on the Deribit exchange and had reached an ATH on the CME since the recent launch of the product.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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