Options Trading

Mainstream crypto platforms will accept BlackRock's money market fund BUIDL as collateral

ChainCatcher news, according to Forbes, BlackRock's first money market fund based on public blockchain, BUIDL (launched in collaboration with tokenization firm Securitize), is set to become an accepted staking asset on trading platforms Crypto.com and Deribit. This means that institutions and professional traders can now use interest-bearing, blockchain-native U.S. Treasury token as trading collateral. With BUIDL's low volatility (currently an annualized yield of about 4.5%) and yield characteristics, exchanges can lower the minimum staking requirements, freeing up more funds for other investments.Since its launch in March 2024, BUIDL's managed scale has grown to $2.9 billion. Its main holders include real-world asset tokenization platform Ondo Finance and stablecoin USDe issuer Ethena Labs.Eric Anziani, President and COO of Crypto.com, revealed that the trading platform, which serves over 140 million users, will open BUIDL staking to institutional clients in selected jurisdictions, covering a full range of services including spot, leverage, derivatives, and over-the-counter trading. Deribit— the top crypto options trading platform with a trading volume exceeding $1.1 trillion in 2024—will allow institutional clients to use BUIDL as margin for futures options trading and will launch spot trading. Historically, the vast majority of collateral on this platform has been Bitcoin.

Data: Last week, the large trading volume of SOL options on Deribit reached the second highest in history, with about 80% being put options

ChainCatcher news, according to CoinDesk, as the price of Solana (SOL) plummeted 46% to $160 over the past five weeks, large holders on the Deribit exchange are increasing their bearish options positions. Data shows that last week, the total amount of SOL block trades reached $32.39 million, accounting for nearly 25% of the total options trading volume of $130.74 million, marking the second highest level in history."Nearly 80% of the block trade volume is concentrated in put contracts. In contrast, during the same period, the put contracts for BTC were only 40%, and for ETH, only 37.5%," said Greg Magadini, Director of Derivatives at Amberdata. "This is far higher than the put ratios for Bitcoin (40%) and Ethereum (37.5%) during the same period.According to Lin Chen, Head of Business Development for Deribit Asia, Solana will face a significant unlock on March 1, with approximately 11.2 million tokens (worth about $2.07 billion) being released, accounting for 2.29% of the total supply, mainly from the FTX bankruptcy estate and foundation. This unlock size is about 59% of SOL's average daily spot trading volume, which could trigger market volatility. Meanwhile, since the issuance of the TRUMP token on January 17, the activity on the Solana ecosystem has significantly declined, with daily trading volume on decentralized exchanges (DEX) continuing to decrease, weakening SOL's upward momentum.
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