Options on Binance Options RFQ now provides XRP/USDT via Binance. European-style contracts provide traders with more leeway by limiting the exercise of options to the day of expiration.
Binance, the leading cryptocurrency exchange, has declared its plans to provide a new service focused on XRP, the sixth most valued cryptocurrency. Specifically, on Monday, March 11, Binance will launch XRP/USDT options on Binance Options RFQ. A statement on the exchange’s website today announced the adjustment.
In order to improve the trading experience for consumers and broaden the range of trading options on Binance Options RFQ, Binance is reportedly launching an XRP-based offer. “Request for Quote” is an important term to remember.
The Binance OTC Trading Desk is accessible via the Binance Options RFQ, allowing customers to immediately request quotations for option transactions. This service facilitates institutional-grade liquidity, allowing users to implement over-the-counter options transactions of significant magnitude at competitive prices and without incurring any fees.
The forthcoming XRP/USDT options, as pointed out by Binance, will be options contracts in European form. European option contracts, like Binance Options, may only be exercised at expiration but can be traded at the current market price before then. This is in contrast to American-style options.
Options trading is very risky and may result in huge profits or losses, according to the exchange. Investors in options may only lose up to the amount they initially invested in the option, known as the premium. Anyone using Binance Options to trade must agree to the terms of service as stated in the Binance Options Service Agreement.
One thing to keep in mind is that the price of XRP has not changed much since Binance announced the launch of their XRP options trading services. The asset’s price has dropped 1.23% to $0.6176 as of this writing. The present price drop of XRP has been more severe in the last few hours after Bitcoin’s little retracement.
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