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Crypto.com has announced the introduction of a new trading feature, strike options, for Shiba Inu (SHIB). It offers traders a new way to engage with the popular cryptocurrency.
Starting with a minimum investment of $10, traders can now predict SHIB's price movement within a 20-minute window.
Strike options explained
Strike options, which are regulated by the Commodity Futures Trading Commission (CFTC) in the United States, present a new trading opportunity in the crypto derivatives market.
This product requires traders to predict whether the price of a given asset, such as SHIB, will rise above a specified level by the end of the contract period.
If the prediction is correct, the trader buys a contract with a "Yes" option, potentially earning a predetermined profit.
Conversely, selecting "No" and selling the contract limits the loss to the initial investment and trading fees if the prediction is incorrect.
Strike options aim to offer a clear and straightforward trading experience, where the potential gains and losses are known upfront.
Expanding available trading pairs
Prior to the launch of strike options for SHIB, Crypto.com recently broadened its trading pairs, introducing Shiba Inu (SHIB) and other cryptocurrencies against PayPal's PYUSD stablecoin.
It also introduced other pairs featuring popular meme coins (such as DOGE/CORGIAI and SHIB/CORGIAI).
The inclusion of Shiba Inu in these new trading pairs shows the growing popularity and acceptance of SHIB within the crypto trading community.