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Cryptocurrency exchange Binance will offer option contracts for the seventh largest cryptocurrency in the world, Litecoin. According to the blog post, Litecoin contracts will take effect on November 25th.
A Binance spokesperson said the options list is an answer to user demand, adding that options are an important hedging tool, especially during market rallies. Binance options contracts have expiration times ranging from 10 minutes to 24 hours, which is shorter than traditional options. They can be completed at any time before the deadline.
This is the sixth list of option contracts on Binance. The global average spot price for Litecoin is just under $ 90 at the time of writing.
Image: Binance
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