- Crypto exchange Binance not too long ago introduced the brand new addition to its choices contracts.
- The exchange revealed plans so as to add Litecoin (LTC) choices, allegedly on account of massive demand.
- LTC contracts, as different choices contracts on Binance, could have expiry dates starting from 10 minutes to 1 day.
Binance cryptocurrency exchange not too long ago introduced plans to begin providing choices contracts for Litecoin (LTC). The exchange revealed this in yesterday’s weblog publish, noting that they are going to go dwell in the present day, Wednesday, November 25th, at 07:00 UTC.
Litecoin choices arriving on Binance
Binance is an exchange recognized for its huge ecosystem, massive userbase, in addition to an ideal choice of supported cryptocurrencies and different property obtainable for buying and selling.
Nonetheless, its customers are continuously requesting extra to be added, and so Binance said that the largest motive for including Litecoin choices is its response to consumer demand.
After all, the exchange additionally famous that choices are an vital hedging instrument, which is especially helpful when market rellies are involved. These are monetary devices that permit merchants to buy or promote underlying property at a predetermined price, and to do it earlier than or on a selected date.
Binance’s contracts have expiry dates that may go from 10 minutes to 24 hours, which is considerably shorter than what conventional choices can supply. Nonetheless, they’ll nonetheless be executed at any time earlier than the time and date of the contract’s expiration.
Now, on the subject of Litecoin choices, that is the exchange’s sixth choices contract itemizing. The exchange’s announcement additionally famous that the brand new listings might be obtainable on the most recent model of Binance’s cellular app.
The coin’s price at present sits at $88.12 — 2.82% decrease than 24 hours in the past. Nonetheless, on a weekly foundation, Litecoin nonetheless sees a optimistic efficiency, because it grew 20.64% within the final 7 days. The coin is at present the seventh largest cryptocurrency by market cap.