Delta Exchange launches options trading for Solana and Cardano

Crypto derivatives platform Delta Exchange announced on Wednesday that it has launched futures trading on Solana (SOL) and Cardano ( ADA ...



Crypto derivatives platform Delta Exchange announced on Wednesday that it has launched futures trading on Solana (SOL) and Cardano (ADA), offering investors a new access point to major altcoins.

The initial rollout of the SOL and ADA call and put options will have daily expiries, with weekly and monthly expiries to be available at a later date.

Options give owners the right, but not the obligation, to buy or sell a specific security at a specified price within a predefined time frame. Call and put options are widely used in traditional markets, but have become more prevalent in crypto markets.

Delta Exchange already offers options trading for Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcashpay (BCP) and Binance Coin (BNB). As Cointelegraph reported, the derivatives exchange launched several options products in mid-2020.

The crypto derivatives market has grown exponentially this year, with traders defying a regulatory crackdown from global financial authorities. The Binance cryptocurrency exchange recently announced that it is restrict trading in derivatives for Hong Kong users amid local pressures. In the United States, officials of the Commodity Futures Trading Commission have expressed support for wider application of crypto-based derivatives.

Related: Derivatives data shows Ethereum traders well positioned to extend ETH rally

After a lull in midsummer, options trading rose significantly in August as crypto markets saw a massive rebound. In mid-August, the open interest in Bitcoin options had more than doubled from their annual low set at the end of June.

Research undertaken by CoinMarketCap determined that by December 2020, derivatives represent 55% of the global cryptocurrency market. The growth of platforms such as FTX, Bybit and Delta suggests that derivatives could represent a larger percentage of the overall market.