Binance, the world’s leading crypto exchange, has announced the launch of Bitcoin and Ethereum options contracts settled in USDT. With the debut date set, these new offerings will feature a unique expiry date of November 8, 2024, and are structured as European-style options contracts. However amid this listing, there still remains a twist as their native token seems unattended to in the recent update.
Bitcoin & Ethereum Options Launch
The announcement details a significant expansion of its derivatives offerings. The platform is set to launch Bitcoin (BTC) and Ethereum (ETH) options contracts paired with Tether (USDT), marking a new milestone in its product lineup.
According to the announcement, Binance Options will conduct a special early listing of BTCUSDT and ETHUSDT options contracts on July 24, 2024, at 08:00 UTC. These contracts will have an expiration date of November 8, 2024.
Notably, while BNB USDT options have recently expired, this “early” listing announcement only includes BTC and ETH options. The absence of a new BNB options listing in this announcement has caught the attention of some market observers, leading to speculation about Binance’s strategy for its native token’s derivatives offerings.
It’s important to note that these newly introduced options are European-style contracts, which means they can only be exercised on the expiration date. Traders and investors interested in these new products are advised to consult Binance’s Options Contract Specifications
for detailed information on contract terms, trading rules, and risk management.
This move reflects the growing sophistication of the cryptocurrency derivatives market and could potentially attract more institutional investors to the platform. The introduction of USDT-paired options for Bitcoin and Ethereum provides traders with additional tools for hedging and speculative strategies.
Also Read: BlackRock Bitcoin ETF Sees $0.5 Billion Inflow, IBIT Share Jumps
Recent Developments at Binance
Beyond the options launch, they crypto exchange has seen other significant developments. Binance.US, the exchange’s United States-based branch, recently received a favorable court order granting relief from a previous consent order by Judge Jackson. Notably, the U.S. Securities and Exchange Commission (SEC) did not oppose this relief, marking a win for both the trail blazer exchange and the broader crypto industry.
In other news, Binance has introduced a new Airdrop portal featuring its inaugural project, Banana Gun (BANANA). This initiative aims to reward BNB holders who have participated in Simple Earn products during a specific period. The launch of Banana Gun represents their ongoing efforts to enhance user engagement and provide additional value to its community of traders and investors.
Bitcoin & Ethereum Market Outlook
Bitcoin price is currently trading at $66,617.71, experiencing a slight decline of 0.41% over the past 24 hours. The world’s leading cryptocurrency has seen a trading volume of $35.15 billion within this period. Bitcoin’s price has fluctuated between a high of $67,753.77 and a low of $66,089.65. Despite this minor setback, Bitcoin maintains a substantial market cap of $1.31 trillion.
In contrast, Ethereum price has shown positive momentum, with its price reaching $3,489.79, marking a 1.16% increase in the last 24 hours. Ethereum’s trading volume stands at $19.20 billion, with the price ranging between $3,532.45 and $3,426.15 during this period.
Also Read: Grayscale Transfers 292,262 ETH Just Before Ethereum ETF Trading Goes Live
Read More: Binance to List Bitcoin & Ethereum Options, But There’s A Catch