On Thursday, the Binance cryptocurrency exchange announced the launch of options trading on its Binance Options platform with the new cryptocurrencies Ethereum (ETH) and Ripple (XRP).
Due to the launch of new options, the exchange announced a competition for traders with a prize Fund of 50,000 USDT.
It is worth noting that before this, options trading was only available for the BTCUSDT pair. This feature is available to all users of the Binance mobile app. Options trading is not supported in the desktop version of the site yet.
CEO of Binance Changpeng Zhao (CZ) did not stay away and I tweeted about the launch of options in the words: "Options are like insurance."
It should be reminded that Binance launched options trading on its Binance Futures platform in April 2020. And the first trading pair was BTCUSDT.