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DUBAI, UAE, March 28, 2024 /PRNewswire/ -- Bybit, one of the world's top three crypto exchanges by volume, is proud to announce the introduction of Solana (SOL) options on its ultra-fast platform. Bybit is now one of only two places offering this product.
This new addition expands Bybit's options, which already include Bitcoin (BTC) and Ether (ETH). Starting today, traders can explore a variety of new strategies with SOL options, improving their trading experience and profitability potential.
SOL options on Bybit open the door to innovative trading strategies. Whether generating income through covered options on SOL holdings or employing protective puts to safeguard investments, the possibilities are now broader than ever.
Bybit's Solana options come with specific features designed to empower traders, including seamless trading within Bybit's Unified Trading Account (UTA). Bybit also hosts a highly liquid perpetual SOL, ensuring the lowest possible hedging costs.
“As one of only two venues currently offering SOL options, we anticipate that the market potential for SOL options will reach half the volume of ETH options, mirroring the distribution seen in perpetual contracts,” said Hao Yang, head of products. Bybit financials. "USDC-settled SOL options aim to meet the needs of spot SOL holders looking to hedge their exposure, as well as those looking for novel ways to trade and manage risk across assets."
About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with 20 million users. Established in 2018, it offers a professional platform where cryptocurrency investors and traders can find a lightning-fast matchmaking engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One Constructors and Drivers champions – the Oracle Red Bull Racing team.
For more details on Bybit, visit Bybit Press.For media inquiries, contact: media@bybit.com For more information, visit: https://www.bybit.com For updates, follow: Bybit's Communities and Social Media
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