Deribit, a cryptocurrency derivatives trading platform based in Panama, recently announced that it will soon offer trading in the Solana (SOL) cryptocurrency. Prior to that, it only supported Bitcoin and Ethereum, which were the two most valued cryptocurrencies in terms of market capitalization and liquidity at the time of the change.
The first European options with SOL will become available on the market on May 9, according to the exchange. On the site, users will be able to choose among daily, weekly, and monthly alternatives.
Institutional investors Interest in Solana as Ethereum Alternative.
Significantly, the addition of SOL options reflects the cryptocurrency’s growing institutional interest, which is a positive development. Moreover, it should be noted that institutional traders account for the vast majority of the firm’s customer (roughly 80 percent ).
SOL rose to prominence on Wall Street last year as the preferred Ethereum alternative. Experts reports that Bank of America predicted that Solana would overtake Visa as the dominant payment method due to its enormous transaction volume, and that it would compete with traditional firms like as the credit card company.
Solana went offline for 7 Hours
Despite all the Good news, solana today went offline for 7 hours as per twitter account solana status.
Validator operators successfully completed a cluster restart of Mainnet Beta at 3:00 AM UTC, following a roughly 7 hour outage after the network failed to reach consensus.