# Delta Exchange launches options trading for Solana and Cardano

Crypto derivatives platform Delta Exchange announced Wednesday that it has launched futures trading on Solana (SOL) and Cardano (ADA), giving investors a new access point to the leading altcoins.

The initial rollout of SOL and ADA call and put options will have daily maturities, with weekly and monthly maturities to be made available at a later date.

Options give owners the right, but not the obligation, to buy or sell a specific security at a specified price within a pre-defined timeframe. Call and put options are used heavily in traditional markets but have become more prevalent within crypto markets.

Delta Exchange already provides options trading for Bitcoin (BTC), Ether (ETH), XRP (XRP), Bitcashpay (BCP) and Binance Coin (BNB). As Cointelegraph reported, the derivatives exchange launched several options products in mid-2020.

The crypto derivatives market has grown exponentially this year, with traders defying a regulatory crackdown from global financial authorities. Cryptocurrency exchange Binance recently announced it was restricting derivatives trading for Hong Kong users amid local pressures. In the United States, officials at the Commodity Futures Trading Commission have voiced their support for broader enforcement on crypto-based derivatives.

Related: Derivatives data shows Ethereum traders positioned to extend the ETH rally

After a mid-summer lull, options trading picked up significantly in August as crypto markets staged a massive rebound. By mid-August, the open interest in Bitcoin options had more than doubled from their yearly low set in late June.

Research undertaken by CoinMarketCap determined that, by December 2020, derivatives accounted for 55% of the overall cryptocurrency market. The growth of platforms like FTX, Bybit and Delta suggest derivatives may account for a larger percentage of the overall market.