- Crypto trade Binance lately introduced the brand new addition to its choices contracts.
- The trade revealed plans so as to add Litecoin (LTC) choices, allegedly as a consequence of giant demand.
- LTC contracts, as different choices contracts on Binance, can have expiry dates starting from 10 minutes to 1 day.
Binance cryptocurrency exchange lately announced plans to begin providing choices contracts for Litecoin (LTC). The trade revealed this in yesterday’s weblog submit, noting that they may go stay right now, Wednesday, November twenty fifth, at 07:00 UTC.
Litecoin choices arriving on Binance
Binance is an trade identified for its large ecosystem, giant userbase, in addition to a terrific number of supported cryptocurrencies and different belongings out there for buying and selling.
Nevertheless, its customers are consistently requesting extra to be added, and so Binance acknowledged that the largest motive for including Litecoin choices is its response to person demand.
After all, the trade additionally famous that choices are an vital hedging device, which is especially helpful when market rallies are involved. These are monetary devices that permit merchants to buy or promote underlying belongings at a predetermined value, and to do it earlier than or on a particular 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 provide. Nevertheless, they will nonetheless be executed at any time earlier than the time and date of the contract’s expiration.
Now, with regards to Litecoin choices, that is the trade’s sixth choices contract itemizing. The trade’s announcement additionally famous that the brand new listings shall be out there on the newest model of Binance’s cell app.
The coin’s value presently sits at $88.12 — 2.82% decrease than 24 hours in the past. Nevertheless, on a weekly foundation, Litecoin nonetheless sees a optimistic efficiency, because it grew 20.64% within the final 7 days. The coin is presently the seventh largest cryptocurrency by market cap.