BIT, an possibilities exchange formulated by mining king Jihan Wu’s Matrixport, has announced the launch of possibilities services for Solana (SOL) in response to increasing demand for investment in the coin.
Jihan Wu’s BIT platform launches Solana (SOL) possibilities trading.
According to a latest announcement, BIT has teamed up with industry maker Orbit Markets to include possibilities trading for Solana (SOL), a foremost altcoin with outstanding development of 80% on the month and 365% on the yr .
— BIT Cryptocurrency Exchange (@BITCryptoXchg) November 22, 2023
BIT’s possibilities portfolio previously incorporated Bitcoin (BTC), Ethereum (ETH), and some other altcoins this kind of as Ripple (XRP), Toncoin (TON), Cardano (ADA), Filecoin (FIL), and Bitcoin Cash (BCH).
Justin Buitendam, Global Head of Institutional Sales at BIT, commented:
“Institutional demand for Solana is growing, it is increasingly seen as a viable alternative to Ethereum. BIT is addressing this demand with the launch of SOL options trading.”
Solana has constantly obtained a good deal of fantastic information not long ago, motivated by the new Solana Breakpoint 2023 updates and compliments from “stock mogul” Cathie Wood. At the exact same time, VanEck also predicts that SOL will attain $three,211 by 2030.
Just final week, Solana DEX exchange trading volume reached more than $two billion, an boost of 54%, looking at just the three weeks of November 2023, producing a new record with complete volume more than four.seven billions of bucks.
The SOL coin is also the coin with the seventh greatest capitalization in the planet, in accordance to CoinMarketCap, the coin the moment fell out of the best ten right after the program-broad crisis brought on by the collapse of FTX in November 2022.
Top ten coins with the greatest capitalization. Source: CoinMarketCap
SOL fluctuates all-around USD 54, somewhat reducing based mostly on the common downward motion of the industry right after the information that Binance was fined USD four.three billion by the US government and CEO CZ had to resign.
SOL/USDT chart taken at twelve:forty PM on November 22, 2023 on Binance
As for BIT, it is an possibilities trading platform formulated by Matrixport – a cryptocurrency custody platform founded by mining king Jihan Wu, the platform was valued at more than $one billion in August 2021 right after just two many years of operation.
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