Deribit has announced the launch of linear options trading on several new assets, including Solana (SOL), Polygon (MATIC) and Ripple (XRP), as reported by The Block.

As noted by Deribit's commercial director, Luuk Strayers, the decision to expand the product range is due to the growing demand from customers. Options for popular alternative coins based on USD Coin (USDC) are a natural addition to the portfolio of the derivatives trading platform.

Options are derivative financial contracts that give investors the right to buy or sell an asset at a predetermined price at a certain point in time.

Strayers emphasizes that currently more than 85% of the open interest in Deribit options is focused on Bitcoin (BTC) and Ethereum (ETH). The addition of options on XRP, SOL and MATIC can help increase liquidity in the market and provide traders with more flexibility in risk management.

Recall that Deribit temporarily suspended trading options on SOL immediately after the collapse of the FTX cryptocurrency exchange in November 2022.

At the time of writing, the price of SOL has reached $104, increased by 9% in the last 24 hours, and the trading volume amounted to $59 billion according to CoinGecko. MATIC strengthened by 4.3%, trading at $0.83, with a weekly gain of 6.1%. XRP is trading at $0.516, with an increase of 2.4% over the past 24 hours, and trading volume of more than $51 billion.