The options market for alternative cryptocurrencies on PowerTrade has seen a significant increase in activity due to heightened market volatility. XRP options trading volume has soared to over $5 million this week. The activity is concentrated in short-dated expirations, with balanced flows between put options at strikes from $1.80 to $1.98 and call options at strikes from $1.80 to $1.93. XRP experienced a volatile week, dropping to a five-month low of $1.61 before rebounding to $2. In the Solana market, traders sought protection through put options at strikes ranging from $104 to $121, as SOL briefly fell to $95 before recovering to $115. Despite macroeconomic concerns, dogecoin saw speculative interest with call options at strikes of 14.5, 15.5, 17.5, and 18 cents, expiring on April 13. Dogecoin slipped to 13 cents early in the week and last traded at 15.7 cents, down over 65% from its peak of 48 cents in December.
Source: www.coindesk.com

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