XRP surpassed by SOL in market cap: Both available in Delta’s options offering

Rick Steves

The wider Solana ecosystem continues to flourish with the launch of Wormhole, a communication protocol between Solana and other top decentralized finance projects.

Delta Exchange has launched Call and Put options for Solana’s SOL and Cardano’s ADA, as part of its plan to expand the offering on its digital asset derivatives exchange.

The Call and Put options have daily maturities immediately available on SOL and ADA with weekly and monthly maturities to follow.

These new offerings add to the growing list of options already available on Delta Exchange including BTC, ETH, XRP, BCP and BNB.

Pankaj Balani, CEO of Delta Exchange, commented: “We have seen a steady increase in demand from investors to add call options for Solana over the past few months. This is unsurprising given the stellar month the price of SOL has had, achieving a new all-time High with more than $2 billion locked just last month. From all indications during the bull run, we also expect to see ADA posting an increase in value in the coming weeks.”

You want to launch a Crypto Brokerage or Exchange? Here’s how!

Options contracts give holders the right to buy or sell the underlying asset at a predetermined price on a predetermined date in the future.

The key advantage of options is that the buyer has the right but not the obligation to exercise the option. Thus the holders of options will only exercise if it is profitable to do so on the exercise date.

SOL has seen extreme growth in the past month alone, climbing from $33.3 on the month-ago date to an all-time high of $130.01 on August 31. Since the beginning of August 2021, the total value locked (TVL) on the Solana blockchain has surged by a staggering 350%.

The wider Solana ecosystem continues to flourish with the launch of Wormhole, a communication protocol between Solana and other top decentralized finance projects, and the Solana DEX Mango Markets completion of a $70 million dollar token launch.

Solana’s popularity in the cryptocurrency markets has made quite an impact in the top 10 cryptos by market capitalization, especially with SOL taking over the position of XRP as the number 6, with its market being now worth nearly $60 billion.

Ripple’s XRP, which used to be #3 in the past, now ranks #7 with a $52 billion market as investors across the United States remain unable to buy or sell the digital asset.

The lingering SEC v. Ripple lawsuit may be keeping XRP at a standstill from a market perspective as investors refrain from taking decisive positions before knowing the outcome of the case.

For now, the Judge is about to go forward with an in-camera review of the documents of which the SEC claims privilege.

Additionally, Ripple is demanding clear answers from the SEC regarding its questions on the Howie Test, the method used by the agency to ascertain whether an asset is a security or not. The outcome of the lawsuit may determine the survival of the Howie Test.

Interestingly, Judge Sarah Netburn is probably keeping up with the XRP Army’s investigative work that is being shared online and that may compromise the SEC’s position in the lawsuit.

Read this next

blockdag

BlockDAG Offering a Fresh Take on Meme Coin Development Amid Solana’s Challenges and Floki Inu’s Price Fluctuations With 30,000x ROI

Dive into how BlockDAG’s innovative presale, low-code platforms, and potential 30,000x ROI, outperform Solana’s technical hurdles and Floki Inu’s market predictions.

blockdag

BlockDAG Excels With $2.2M In Miner Sales And Moonshot Teaser, Overshadowing Litecoin’s Rally And Dogwifhat’s Market Highs

Explore how BlockDAG’s $2 million Miner Sales & Moonshot Teaser eclipse the Litecoin price recovery and the Dogwifhat all-time high.

blockdag

BlockDAG Leads Top 6 Cryptocurrencies to Buy in 2024 with a Potential Price Surge to $10 Leaving Cosmos, BNB, and Ethereum Behind

Discover the top six cryptocurrencies in 2024, including BDAG’s remarkable growth potential, BNB’s durability, Cosmos’ connectivity, and ETH’s eco-friendly advances.

Retail FX

Weekly Roundup: Prop firm arbitrarily accounts, Interactive Brokers’ CFDs in Japan

FX, Fintech and cryptocurrency markets have been bustling with activity over the past week, as is often the case. Keep yourself informed and ahead of the curve with a curated selection of crucial stories and developments that are most relevant to those engaged in the markets.

blockdag

BlockDAG Redefines Crypto Mining as Presale Tops $18.5M, Outshining Ethereum ETF & Dogecoin Dynamics

The recent approval of the first Ethereum ETF in Hong Kong underscores a significant advancement in the cryptocurrency’s mainstream acceptance. While Ethereum continues to attract institutional attention, the Dogecoin price prediction suggests a possible resurgence, despite its current undervaluation from past highs.

Digital Assets

Bitcoin halving is done: ViaBTC mines historic block 840K

The Bitcoin network has confirmed its fourth-ever halving block, mined by the cryptocurrency pool ViaBTC, according to data from Blockchain.com. This significant event in the Bitcoin ecosystem reduced the mining reward by half, a deflationary measure occurring approximately every four years to control the issuance of new bitcoins and curb inflation.

Retail FX

True Forex Funds now offers Match-Trader and cTrader platforms

Proprietary trading firm True Forex Funds today announced the launch of Match-Trader, a multi-asset trading platform developed by California-based FX technology provider Match-Trade Technologies.

Retail FX

CySEC hits FXORO parent with €360,000 fine

The Cyprus Securities and Exchange Commission (CySEC) has fined MCA Intelifunds, trading as FXORO, a total of €360,000 for multiple violations of the Cypriot investment laws.  

Digital Assets

Binance’s CZ in good mood ahead of sentencing, says partner

Yi He, co-founder of cryptocurrency giant Binance, has shared a positive outlook on the legal situation of the exchange’s former CEO, Changpeng Zhao. Zhao is currently awaiting a sentencing hearing scheduled for April 30 in the United States.

<