After the addition of TONcoin (TON) as its third major cryptocurrency, the emerging cryptocurrency options trading industry is poised to take off. It’s a significant addition to what might be one of the most profitable digital token trading markets, allowing private people and institutional investors to boost their exposure to one of the most promising assets in the crypto ecosystem.
Today marks the launch of TON options trading on the leading Bitcoin options and futures exchange BIT. Later on, Paradigm, the institutional liquidity network for derivatives traders, will also provide TON options trading. Through a partnership with the cutting-edge liquidity provider Darley Technologies and the major supporter of the TON ecosystem, DWF Labs, in the blockchain sector, TON was able to be included in the trading of crypto options.
Trading cryptocurrency options offer investors a relatively cheap and low- risk-alternative to trading digital assets. A form of derivative contract known as an option gives its buyer the right, but not the necessity, to purchase or sell an underlying asset at a predetermined price on or before the contract’s expiry date. Options provide traders the ability to control their exposure to and speculate on the future price of digital assets, much like other crypto derivatives.
A ground-breaking technology called The Open Network (TON) will connect all blockchains and the Web2 internet into a single, open network. It was created to provide actual Web3 to the billions of Telegram users. It was first developed by the Telegram team, who adopted its freedom and openness spirit. Since 2020, it has been managed as an open-source community project. The layer-1 architecture of TON is built to scale up to 2 to the power of 32 workchains, with each of them being further partitioned into up to 2 to the power of 60 shardchains. Near-instantaneously, it can accommodate millions of transactions per second.
One of the best-performing cryptocurrencies in 2022 was TONcoin, which grew in value by more than 200% in the second half of the year to rank 23rd in terms of market capitalization.
TON is positioned to rank among the most frequently traded digital tokens in the developing crypto options market with the advent of TON options trading on BIT and, shortly, Paradigm.
“We are thrilled to be working with Darley Technologies and DWF to offer TON options. With the advent of dollar-margined products and the addition of various altcoin options, the options market has enormous growth potential. BIT and our trusted partners are devoted to increasing the accessibility of crypto options for both institutional and retail traders,” BIT Co-founder and COO Lan said in a statement.
In the next years, it is anticipated that the rapidly expanding market for trading digital assets’ options would see significant growth. When compared to the spot market in conventional finance, the options trading market in cryptocurrencies only makes up about 2% of total trading activity. As one of the first trading exchanges to provide USD-margined options, BIT is positioned to take the lead in crypto options trading as the industry develops by providing consumers with unmatched accessibility. Users may trade a number of options, including BTC and ETH, using USD as collateral, and BIT has the unique potential to add support for new cryptocurrencies rapidly.
Trading for TON options on BIT and Paradigm has been made possible thanks in large part to Darley Technologies and DWF Labs. With new operational hazards and specific market risk management needs, market creation for cryptocurrency options trading is a significant task that only Darley Technologies can meet with its cutting-edge trading infrastructure. Darley Technologies is dedicated to taking part in future initiatives that will make this vision a reality and expects to play a significant position in democratizing crypto options trading.
“Through cutting edge technology, innovation and an entrepreneurial spirit, Darley Technologies has the vocation to democratize options. Offering market making services on the unique alt-coins options market is a new milestone for us. In addition, this new project, in collaboration with BIT, TON Foundation and DWF Labs, epitomizes the growing trust and synergies with our long standing partners,” said Clément Florentin, CEO & Co-founder of Darley Technologies.
One of the most well-known proponents of the TON ecosystem for a long time, DWF Labs committed $10 million to its expansion in November 2022. The network is supported by DWF Labs via the development of tokens, markets, and exchange listings through its relationship with the TON Foundation. DWF Labs also played a significant role in introducing TON options trading to BIT and Paradigm.
“With a global community growing at a speed of more than 2% weekly, as well as more than 100 million transactions to date, the TON ecosystem is one of the most promising on the market. Joining the options market is a logical and important step for TON, because until now the only coins available there were BTC and ETH. It means TON will take its place alongside crypto’s most prestigious coins,” said Andrei Grachev, Managing Partner at DWF Labs.
“We have invested $10 million in the TON Foundation last year, and we have pledged – and already started deploying capital – to support 50 projects in 2023.”
The TON crypto options trading product is already available on BIT and is perfect for institutions and individuals wishing to enhance their exposure to TON. Early next month, it will be made accessible on Paradigm as well.