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.
#Binance Options Lists @ethereum $ETH and $XRP Contractshttps://t.co/jH2dC51XwD?from=article-links pic.twitter.com/V3IXYhhYtY
— Binance (@binance) May 25, 2020
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.
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.
Godfrey Benjamin
Arman Shirinyan
Tomiwabold Olajide