FTX Brings Bitcoin Options to Crypto Traders

FTX, one of the largest crypto derivatives platforms, on Saturday, successfully launched Bitcoin options trading for its clients.

Announced by the exchange’s CEO Sam Bankman-Fried on Twitter, the platform has only listed Bitcoin options; however, its future plans are still unknown. In a further tweet, he also claimed that after about two hours of launching, the trading volume of the options contracts touched $1 million.

Options are live!https://t.co/B85lrLVDQO

— SBF (@SBF_Alameda) January 12, 2020

Launched last year, FTX attracted a major mass of traders and is now the eighth largest futures Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term with an adjusted volume of around $370 million in the last 24 hours. The market is led by Huobi and OKEx, both of which handle billions of dollars in trades in a day.

FTX options just hit $1m of volume since the launch 2 hours ago!https://t.co/B85lrLVDQO

— SBF (@SBF_Alameda) January 12, 2020

The increasing demand for crypto futures

Last month, the derivatives platform received an undisclosed amount from the leading crypto exchange Binance. As Finance Magnates reported, the deal terms include FTX’s involvement to build out the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term and institutional product offerings across the Binance ecosystem, including its global exchange and over-the-counter (OTC) trading desk.

The derivatives exchange also grabbed headlines last year when a $150 million lawsuit was brought against it for market manipulation and selling unlicensed securities in the US. Allegations were also made that the manipulations were done by Binance, which the vocal head of the exchange denied. The charges were dropped by the court last month due to insufficient evidence.

With the volatility in the spot market, crypto options contracts became very popular, and major exchanges are betting big on the arena. Along with Huobi and OKEx, Binance also dived into the sector, along with the launch of its futures platform.