The Expected News Has Arrived for Solana (SOL), XRP and Polygon (MATIC)! Is Ascension Near?

Deribit, the world’s largest cryptocurrency options exchange, announced that it would also list XRP, Solana (SOL) and Polygon (MATIC) options in October 2023.

The long-awaited day has finally arrived and XRP, Solana and Polygon options were published on Deribit and the first transactions revealed that there was an expectation of an increase in prices before the Bitcoin (BTC) halving.

Options trading for XRP and Polygon (MATIC) opened on crypto derivatives exchange Deribit at 08:00 UTC on March 12, while SOL options opened yesterday. It was stated that all of these new option markets will use USDC.

Explaining that the first few transactions on Solana options made purchases of $ 180, Deribit said that this price showed that investors expected an increase of over 20% in the price of SOL before March 29.

While $180 is targeted for SOL, targets of $0.74 and $0.9 are expected for XRP. Because the first few purchases in XRP occurred at $ 0.74 and $ 0.9, and sales occurred at $ 0.69.

At this point, investors expect the XRP price to rise to $0.9 before March 29.

Finally, on the Polygon (MATIC) front, MATIC options rallied the most at $1.2, $1.4 and $1.6. has the calls.

Additionally, the open position of Solana and XRP futures increased in 24 hours, while the open position of MATIC futures decreased. While this indicates a bullish outlook for XRP and SOL prices, it shows that the chances of recovery/rise for MATIC are relatively lower. However, given the MATIC price

Luuk Strijers, Deribit’s trading director, said:

“Adopting USDC to close option positions provides critical benefits to investors. SOLANA eliminates the need to rebalance collateral when holding positions in multiple altcoins such as MATIC and XRP, reducing the need for hedging.

“For those aiming to maintain a stable USD position, it reduces the need for hedging and simplifies profit and loss calculations.”

*This is not investment advice.

Source