Solana

Kevin

Million

Velo

Dubai

<div class="watcher-guru">
 <p>Despite being in the midst of crypto winter, several firms from the crypto space continue to expand their reigns. Right from branching out to different geographical locations to offering new services to customers, companies have been checking a host of boxes. Deribit is one such entity.</p>
 <p>In a recent interview with Bloomberg, the Chief Commercial Officer&nbsp;of the company, Luuk Strijers, revealed that the platform will be shortly offering market participants more crypto assets to choose from. The world’s largest options exchange is looking to offer XRP, Solana, and MATIC options from January 2024. The executive asserted that the lack of volatility “won’t defer” the company’s plans.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">The largest cryptocurrency exchange for options, Deribit, is pushing ahead with plans to provide customers with contracts on more coins despite a slump in volatility in digital assets https://t.co/O6zotmQGUc</p>
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    </div> — Bloomberg Crypto (@crypto) October 9, 2023
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 <p><strong>Also Read: Crypto: Abu Dhabi is the New ‘Capital of Capital’ Says Kevin O’Leary</strong></p>
 <p>Bitcoin has been stagnant in the $27,000-$28,000 range of late. In fact, most other assets have been following suit, and as a result, the aggregate valuation of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market has not been able to rise beyond the $1 trillion threshold. In fact, according to Velo Data numbers, the correlation between BTC the Implied Volatility [IV], continues to hover around in the negative territory. For context, the IV depicts the amount of volatility expected by traders in the market going forward. Thus, the current state points out that traders are still concerned about downside moves.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="250" src="https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp" alt class="wp-image-115297" srcset="https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 1024w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 300w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 768w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 1536w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 2048w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 380w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 550w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 800w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 1160w, https://cdn.thebittimes.com/images/2023/10/09/f3715bc97f839f4073f406a9a0fc9269.webp 2904w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Velo Data
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 <p>However, the <a rel="noopener noreferrer nofollow" title="Deribit" href="https://thebittimes.com/tag/deribit.html">Deribit</a> executive feels that some volatility will be influxed around the time of the launch, in 2024. Specifically, he said that he expects “some increased volatility in January when we launch <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a> on three altcoins.” He added,</p>
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 <p><strong>“Is this the best environment to launch new products or should we defer? That’s what keeps us awake.”</strong></p>
 <p><strong>Also Read:&nbsp;Crypto: When is the ‘Perfect’ Buying Opportunity?</strong></p>
 <h3 class="wp-block-heading" id="h-deribit-controls-85-of-crypto-options-volume">Deribit Controls 85% of Crypto Options Volume</h3>
 <p>The latest expansion plans marks <a rel="noopener noreferrer nofollow" title="Deribit" href="https://thebittimes.com/tag/deribit.html">Deribit</a> venturing out of the Bitcoin, Ether and USD Coin <a rel="noopener noreferrer nofollow" title="options" href="https://thebittimes.com/tag/options.html">options</a> zone for the first time. Strijers noted that the firm will shift to Dubai as soon as it receives the required licenses. The company has 115 employees and is looking to hire another dozen going forward, the executive hinted.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="654" src="https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp" alt class="wp-image-115286" srcset="https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 1024w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 300w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 768w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 380w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 550w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 800w, https://cdn.thebittimes.com/images/2023/10/09/ca3fb77751ec4a05a6b75e3d31b3b083.webp 1062w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Warrior Trading
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 <p>Deribit’s market share in options arena currently stands around 85%. Other companies like Binance, OKX, Bybit, etc. account for the remaining 15%. Institutional share accounts for more than 4/5th of Deribit’s total volume.</p>
 <p><strong>Also Read:&nbsp;Ethereum Valued More than McDonald’s Despite $11 Million Liquidations</strong></p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>crypto</li>
  <li>Deribit</li>
  <li>MATIC</li>
  <li>options</li>
  <li>Solana</li>
  <li>xrp</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-xrp-solana-matic-options-to-debut-on-deribit-in-2024-tbt65605.html">https://thebittimes.com/crypto-xrp-solana-matic-options-to-debut-on-deribit-in-2024-tbt65605.html</a></p>

Crypto: XRP, Solana, MATIC Options to Debut on Deribit in 2024

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