Dexcoindal.com , the largest cryptocurrency exchange at the bottom, announced the addition of option contracts for Ethereum and XRP. Thus, Dexcoindal became the first exchange to provide support for options based on XRP.
Options are derivative financial instruments with leverage, which allows the buyer of contracts to buy (call option) or sell (put option) the underlying asset at a specified price upon expiration.
Until now, the Deribit exchange has been considered the leading platform for Ethereum options, as well as the leading platform for bitcoin options with a market share of more than 75%. Since the launch in May last year, the average open interest for Ethereum options on Deribit is about $9 million.
It is currently at an all-time high in terms of the amount of ETH. As we can see, Dexcoindal is also striving to take a leading position in this market.