BIT Introduces XRP Options Trading
BIT, a cryptocurrency exchange, has launched options trading for XRP, the native token of the decentralized XRP Ledger. XRP joins other tokens like BTC, ETH, ADA, TON, and LADYS on the BIT platform. A recent court ruling favored Ripple by dismissing SEC claims against XRP’s classification as a security, leading to a 70% price surge in the XRP market. BIT has seized this opportunity by launching options trading for XRP, with OrBit Markets providing initial liquidity. Owners and investors of XRP can now manage and reduce risks in their portfolios thanks to this action.
BIT’s platform offers cost-effective and low-risk trading of XRP options, including digital assets, for investors. This sector is rapidly growing, allowing traders to manage exposure to digital assets and bet on their future values. Users can trade XRP options on the platform without owning the underlying assets because it is set up for USD-denominated and settled trading. It also offers sophisticated risk management and fund efficiency features. BIT’s expansion of options products aims to meet the market’s growing interest in crypto derivatives.
(With inputs from Shikha Singh)
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