Deribit to List MATIC, SOL, XRP, Despite Market Downturn

Deribit plans to introduce options for MATIC, SOL and XRP in January, aiming to expand its product line despite market volatility.
Deribit to List MATIC, SOL, XRP, Despite Market Downturn
Deribit to List MATIC, SOL, XRP, Despite Market Downturn

Despite a downward market trend, Deribit, a cryptocurrency exchange for options, has huge plans for the new year. The network has promised to provide choices for Solana (SOL), XRP, and Polygon (MATIC) in its product line, the article claims.

Beginning in January, Deribit plans to offer consumers contracts on new coins. Low volatility, according to Chief Commercial Officer Luuk Strijers in an interview, “will not defer our plans.” He claims that the business will also submit an application for a brokerage license in the European Union. Is this the ideal setting to introduce new items, or should we wait? asked Strijers. That is what keeps us up at night. He anticipates “some increased volatility in January when we launch options on three altcoins.”

Due to the declining value of digital assets and higher volatility compared to peak levels in 2021, the $2 trillion in crypto derivative trading volume decreased to $1.5 trillion in September.

Market movements for digital assets are anticipated to be revived by the recently announced exchange-traded funds for ether futures and a likely clearance from US regulators for bitcoin spot ETFs. Deribit’s growth would finally push it past cryptocurrencies like Bitcoin, Ether, and USD Coin. According to Strijers, the Panama-based company will relocate to Dubai, which is a reasonably crypto-friendly country, once it has obtained the required license there.

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