Leading cryptocurrency exchange Binance will soon offer options contracts for the world’s 7th largest cryptocurrency, Litecoin [LTC].
In line with a recent official web-blog post, the Litecoin [LTC, +0.30%] contracts will go online from Wednesday at 07:00 UTC.
A Binance representative added that the newest listing comes in response to “user demand,” adding that options are an “important hedging tool, especially within a market rally.”
Options are a kind of financial instrument permitting traders to buy or sell an underlying asset at a predetermined price either before or on a specific date.
The expiry dates on Binance’s contracts range from 10 min. via to 24 hours, shorter than traditional options. They will be executed at any time before the expiry date.
Litecoin is Binance’s 6th options contract listing. The global average spot price for litecoin is below $90 USD at the reporting time, up 0.30% over 24 hours, consistent with CoinMarketCap.
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