Bit.com Announces Toncoin Available In Option Trading On Platforms, Together With Bitcoin And Ethereum
JAKARTA - TON Network has the potential to experience a significant increase in trading volume and interest following the launch of the Toncoin (TON) option. On Thursday, the BIT crypto exchange, Bit.com announced that TON will be available on its platform Option trade, reported by DailyCoin.
For information, the Option trade is a type of financial transaction where buyers buy rights, but it is not an obligation, to buy or sell assets at certain prices on or before the expiration date.
Option trading offers greater flexibility than spot or futures trading, as it allows traders to choose strike prices and expiration dates according to their trading plans.
An option buyer can make a profit from the expected asset price movement without having to buy or sell the asset itself, while an option seller can make money from the premium paid by the buyer. However, option buyers also risk losing money in the amount of premium paid if the asset price does not move as expected.
In the context above, BIT announced that option exchanges and crypto futures will launch option trading on TON. This will make TON the third crypto asset to have trading options, after BTC and ETH. So far, only Bitcoin (BTC) and Ethereum (ETH) are available for option trading. Both of these assets are the largest crypto assets by market cap.
BIT, Darley, and DWF Labs Partnerships Results
The launch of the TON option is the result of a partnership between the BIT crypto exchange, liquidity provider Darley Technologies, and blockchain marketplace maker DWF Labs. The toN inclusion in option trading could have a significant impact on this asset, which was originally launched by messaging platform Telegram.
Analysts stated that this could increase trading interest and increase TON liquidity. The launch of this TON option is expected to provide an opportunity for traders to explore new opportunities in the crypto market and increase potential profits in the future.
Last year, TON experienced significant growth and became one of the cryptocurrencies that recorded its best performance in 2022, with a 200 percent increase in the second half of this year. One of BIT's partners, DWF Labs, is a major supporter of the TON ecosystem. DWF has invested $10 million in TON last year and pledged to invest even more.
"THE TON ecosystem is one of the most promising in the market with a global community growing by more than 2 percent every week and more than 100 million transactions to date," said Andrei Grachev, Managing Partner at DWF Labs. Grachev also added that DWF will support 50 projects in 2023.
Open Network (TON) is a blockchain network launched by Telegram's personal messaging platform. Previously known as Telegram Open Network, TON changed its name after its founding company withdrew from the project.
Potential for Trafficking
The launch of the TON option is part of BIT's long-term vision to develop a crypto option market. This crypto exchange aims to make trading crypto options more accessible and benefit from its growth.
According to BIT Co-founder and COO, Lan Yue, the option market has enormous growth potential with the emergence of products marginalized in dollars and the addition of various altcoin options. BIT is committed to making crypto options more accessible to institutional and retail traders.
"With the appearance of products that are marginalized in dollars and the addition of various altcoin options, the option market has enormous growth potential," said BIT Co-founder and COO, Lan Yue.
Along with the growing crypto market, BIT believes that options will become a more important element in the crypto market. The launch of this TON option is expected to provide opportunities for traders to explore new opportunities in the crypto market and increase potential profits in the future.