Milady Coin

Cryptocurrency

Impact

Toncoin

<p><strong>XRP holds the position of the world’s fifth largest cryptocurrency with a market capitalization of $30.88 billion currently.</strong></p> 
<h2 style="text-align: center;" id="xrp-options-a-new-opportunity">XRP Options: A New Opportunity</h2> 
<p>Cryptocurrency derivatives exchange BIT <a href="https://www.coindesk.com/markets/2023/08/17/crypto-investors-can-now-trade-xrp-options-on-bit-exchange/" target="_blank" rel="noopener noreferrer nofollow">has just launched</a> a new trading option related to XRP, a cryptocurrency focused on payments. This innovation enables traders to engage in XRP options trading without actually owning XRP. The exchange clarified that any profits or losses resulting from these trades will be settled using the U.S. dollar. Notably, the creation of order book liquidity for this product is being managed by the institutional liquidity provider OrBit Markets.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">🥳 <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> has newly joined BIT’s <a href="https://twitter.com/hashtag/cryptooptions?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#cryptooptions</a> platform!</p> 
 <p>🌟Options pair: XRP/USD<br> 🌟Denominated &amp; settled in USD<br> 🌟1-10x leverage<br> 🌟Available on web, mobile App &amp; API</p> 
 <p>📲Visit <a href="https://t.co/jF9vDqsxj9" rel="noopener noreferrer nofollow">https://t.co/jF9vDqsxj9</a> &amp; trade now!<a href="https://twitter.com/OrBit_Markets?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@OrBit_Markets</a> <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> <a href="https://twitter.com/hashtag/BITExchange?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BITExchange</a> <a href="https://twitter.com/hashtag/XRPOptions?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPOptions</a> <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> <a href="https://t.co/w8Ig0CuSdR" rel="noopener noreferrer nofollow">pic.twitter.com/w8Ig0CuSdR</a></p> 
 <p>— BIT Crypto Exchange (@BITCryptoXchg) <a href="https://twitter.com/BITCryptoXchg/status/1692083802166759851?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 17, 2023</a></p> 
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 style="text-align: center;" id="expanding-the-trading-horizon">Expanding the Trading Horizon</h2> 
<p>This recent addition broadens the range of options available on BIT’s platform. Previously, options for bitcoin (BTC), ether (ETH), Cardano’s ADA, Toncoin (TON), and Milady Coin (LADYS) were offered.</p> 
<p>Options are contracts granting the holder the choice to buy or sell an underlying asset at a predetermined price on or before a specified date. If it’s about buying, it’s a call option; if it’s about selling, it’s a put option. Traders often utilize options to offset risks or earn extra income on top of their existing holdings.</p> 
<p>Justin Buitendam, BIT’s Global Head of Institutional Sales, expressed excitement about enabling both institutional and retail traders to access XRP options trading. This development allows for both long and short trading strategies.</p> 
<h2 style="text-align: center;" id="xrp-s-volatility-and-recent-legal-win">XRP’s Volatility and Recent Legal Win</h2> 
<p>XRP, similar to other alternative coins, tends to experience greater price fluctuations than bitcoin and ether. The introduction of XRP options trading comes after a recent U.S. District Court ruling regarding XRP’s legal status. The court stated that XRP isn’t a security when traded on centralized exchanges, but it is when directly sold to institutions. This ruling differs from the Securities and Exchange Commission’s attempt to classify all alternative cryptocurrencies uniformly.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Cryptocurrency exchange BIT has launched options tied to <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a>, expanding its existing product suite that includes options on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>, <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>, <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ADA</a>, <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TON</a>, and <a href="https://twitter.com/search?q=%24LADYS&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LADYS</a>. Reports <a href="https://twitter.com/godbole17?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@godbole17</a>.<a href="https://t.co/Aim1pbArPR" rel="noopener noreferrer nofollow">https://t.co/Aim1pbArPR</a></p> 
 <p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1692142405187780914?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 17, 2023</a></p> 
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 style="text-align: center;" id="market-impact-and-future-outlook">Market Impact and Future Outlook</h2> 
<p>This XRP options launch follows Ripple’s favorable legal outcome, which has intensified market interest. Several major exchanges have reinstated XRP trading after the ruling. However, the SEC’s decision to appeal the ruling has reintroduced some uncertainty into the market.</p> 
<h2 style="text-align: center;" id="bit-s-xrp-options-enhancing-crypto-trading">BIT’s XRP Options: Enhancing Crypto Trading</h2> 
<p>BIT’s introduction of XRP options aligns with the rising demand for XRP due to the <a href="https://walletinvestor.com/magazine/xrp-price-disappoints-after-court-ruling-deaton-stays-positive" target="_blank" rel="noopener noreferrer nofollow">recent legal developments</a>. This offering empowers investors with tools to manage risks and speculate on price trends. With the increased availability of options for various cryptocurrencies, the trading landscape continues to evolve, offering both institutional and retail traders new ways to engage with digital assets.</p>

Introducing XRP Options Trading on BIT Exchange

Table of Contents

WalletInvestor

Other articles published on Aug 17, 2023

Four Executives Charged in $1.8 Million Crypto Mining Scam in Singapore

Ooki DAO Forced to Cease Operations Following Landmark Legal Clash with CFTC

PayPal Temporarily Halts UK Crypto Purchases Due to Regulations

Tether’s Chief Technology Officer Provides Clarity: $1 Billion USDT Minting on Ethereum Intended ...

Shiba Inu: Shytoshi Denies Bridge Issue, Blames Excessive Traffic

Bybit to Add PayPal’s PYUSD Stablecoin to the Spot Trading Platform!

Join our free newsletter for daily crypto updates!