Deribit launching linear options for SOL, XRP and MATIC

Cryptocurrency derivatives exchange Deribit has announced that it will be offering linear options for Solana (SOL), XRP, and Polygon (MATIC).

"Based on demand from our clients, we chose to expand our offerings with some key altcoins; SOL, MATIC, and XRP," Deribit Chief Commercial Officer Luuk Strijers said in an email to The Block.

Strijers added that introducing USDC-based altcoin options is a natural progression for the derivatives trading platform. "There is now over 85% of open interest for bitcoin and ethereum options on Deribit," he noted.

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Deribit exchange activity increases

In January, Deribit experienced a substantial surge in activity, achieving its highest turnover since May 2021 — totaling $83.3 billion.

Additionally, in January, the exchange reported the highest-ever number of corporate accounts engaging in trading within a single month.

Deribit also observed the highest number of unique retail participants actively trading since December 2021 — indicating a notable increase in retail involvement in the platform's offerings.