Delta Exchange crypto derivatives platform announced on Wednesday that futures trading on major altcoins Solana (SOL) and Cardano (ADA) has begun.
The SOL and ADA call and put options will be available in daily maturities at first, with weekly and monthly maturities coming later.
Owners of options have the right, but not the responsibility, to buy or sell a certain security at a set price within a set timeframe. Call and put options are widely utilized in traditional markets, but they are becoming more common in cryptocurrency markets.
Options trading is already available on Delta Exchange for Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcashpay (BCP), and Binance Coin (BNB) (BNB). The derivatives exchange offered many options products in mid-2020, according to Cointelegraph.
This year, the crypto derivatives market has risen at an exponential rate, despite regulatory crackdowns from global financial authorities.
Binance, a cryptocurrency exchange, recently announced that futures trading would be restricted for Hong Kong consumers due to local constraints.
Officials at the Commodity Futures Trading Commission in the United States have expressed support for tighter regulation of crypto-based derivatives.
Following a pause in the middle of the summer, options trading exploded in August, as crypto markets launched a massive comeback. Open interest in Bitcoin options had more than doubled since its yearly low in late June by mid-August.
According to CoinMarketCap’s research, derivatives will account for 55% of the whole cryptocurrency market by December 2020. The rise of platforms like FTX, Bybit, and Delta suggests that derivatives will become a larger part of the entire market.