Litecoin, Binance, Options, CoinFlash

Cryptocurrency exchange Binance is to offer options contracts for the world’s seventh largest cryptocurrency, litecoin.

  • According to a blog post on Tuesday, the litecoin contracts will go live on Wednesday at 07:00 UTC.
  • A Binance representative told CoinDesk via email that the latest listing comes in response to “user demand,” adding that options are an “important hedging tool, especially during a market rally.”
  • Options are a type of financial instrument enabling traders to buy or sell an underlying asset at a predetermined price either before or on a particular date.
  • The expiry dates on Binance’s contracts range from 10 minutes through to 24 hours, shorter than traditional options. They can be executed at any time before the expiry date.
  • Litecoin is Binance’s sixth options contract listing.
  • The global average spot price for litecoin is just below $90 at press time, up 1.56% over 24 hours, according to the CoinDesk 20.

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