Exclusive: Crypto Derivatives Exchange Deribit Planning Solana Futures - Aliens: AI Crypto News & Markets Updates
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Exclusive: Crypto Derivatives Exchange Deribit Planning Solana Futures

PublisherPublisher
Blockworks

Wed, Jan 19, 2022

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SOL futures are set to be just the third cryptocurrency supported by Deribit, reflecting the need for market-maker coverage and liquidity in derivative products The offering came after Deribit picked up interest in SOL from market-makers Cryptocurrency derivatives exchange Deribit is rolling out SOL derivatives — the latest indicator of strong institutional investor interest in the Solana protocol.

“It was really obvious there is demand for SOL, and it wasn’t that obvious before.” Deribit, which accepts only crypto deposits, is in the process of building a Solana wallet to facilitate those trades.

The company plans to offer perpetual trading, options, futures and portfolio margining services.

Deribit’s offering ought to substantially expand their trading volume, sources said.

One crypto hedge fund manager gearing up to trade SOL for the first time said the derivatives offering is a welcome means to give institutional investors the ability to place directional bets on the cryptocurrency.

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