Deribit, a Panama-based cryptocurrency derivatives platform, announced in a recent tweet that the popular altcoin Solana (SOL) will be added to the platform. Thus, the first options based on SOL in Europe will be available to users on May 9. Here are the details…
Deribit adds popular altcoin Solana
The first European options with SOL will be released on the cryptocurrency derivatives trading platform Deribit on May 9. The platform will offer daily, weekly and monthly options. On the other hand, according to the announcement, Solana futures will start this Friday. For many, the launch of options for SOL highlights corporate interest. At the time of writing, SOL is changing hands at $99.97, down 0.1 percent.
Institutional traders make up approximately 80 percent of Deribit’s customer base. Prior to this, the platform only offered options on Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization with the highest liquidity level. Deribit remains the dominant exchange in terms of cryptocurrency options trading.
Deribit, leader in options trading
According to data provided by CoinGlass, 91 percent of the open interest in Bitcoin options is from Deribit investors. The options service of the famous Chicago-based CME Group is second only to Deribit with roughly 4 percent. Deribit was originally founded in the Netherlands in 2016, but is now headquartered in Panama. It was one of the first Bitcoin options trading platforms and has since grown into the largest Bitcoin options exchange in terms of volume and open interest.
Despite building a dedicated Bitcoin derivatives trading platform, Deribit also supports Ethereum in 2019 to allow users to trade all the exchange’s derivatives contracts for both BTC and ETH. added. The crypto-only trading platform offers ultra-low latency pricing and trading, allowing users to execute complex derivatives trading strategies. Users can trade futures contracts, perpetual swaps and options on BTC and ETH and enjoy the deepest cryptocurrency derivatives liquidity on the market.
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