Deribit Expands Altcoin Arsenal: AVAX and TRX Join USDC-Settled Options Roster

Deribit just loaded two more rounds into its altcoin derivatives chamber. The crypto options powerhouse now offers USDC-settled contracts for Avalanche (AVAX) and Tron (TRX), signaling a strategic push beyond its Bitcoin and Ethereum stronghold.

Why This Move Matters

It's a direct play for institutional and sophisticated retail traders craving stability. By settling in USDC—a dollar-pegged stablecoin—Deribit sidesteps the gut-wrenching volatility of crypto-native settlement. Traders can hedge or speculate on AVAX and TRX price action without their final P&L swinging wildly on Bitcoin's whims. It's a cleaner, more familiar risk profile for desks used to traditional markets, even if it adds a layer of centralization dependency that purists love to hate.

The Platform's Growing Altcoin Ambition

This isn't a one-off experiment. Adding AVAX and TRX builds on a growing lineup of altcoin derivatives, a clear bid to capture market share as trader appetite fragments across the crypto ecosystem. The exchange is betting that deep, liquid options markets for major altcoins are the next battleground—and it's moving to arm its users first. It’s a classic infrastructure land grab: provide the tools, and the volume (and fees) will follow.

A Calculated Bet on Selective Growth

Deribit isn't throwing darts at a coin list. AVAX brings the smart contract platform crowd, while TRX taps into a massive, active user base for... certain types of transactions. Together, they represent significant, albeit very different, pockets of liquidity and interest. The move suggests Deribit is selectively onboarding assets it believes can sustain real options markets, not just hype cycles. Because let's be honest—in crypto, building a derivatives market for a fading project is about as useful as a bank offering structured products for a bankrupt company.

This expansion tightens Deribit's grip as the go-to venue for serious crypto options flow. For traders, it means more tools. For the altcoins, it's a stamp of legitimacy. And for the competition? It's a warning shot across the bow. The race to define the future of crypto derivatives is heating up, and Deribit just added more fuel—settled in nice, stable digital dollars, of course.

Use cases: hedging and yield strategies

With the addition of AVAX and TRX options, a range of existing derivatives strategies already implemented in other crypto options markets is feasible. Hedging spot exposures is one of them. An example is a trader who has a position in TRX can purchase a put option to establish downside exposure and retain upside exposure.

You asked, we added.
AVAX and TRX linear options are now live on Deribit. 🚀

USDC settled. Built for traders who want more altcoin optionality.

Read this article for full details ↓https://t.co/4y6AbqEuoK

Deribit. Always Open. pic.twitter.com/IwP0a9lUmp

— Deribit (@DeribitOfficial) January 14, 2026

When the market price is lower than the strike price of the put option on the day of expiration, the put option rewards the losses on the spot position. Since Deribit options are cash settled, this protection is secured by a USDC payout rather than with a token transfer.

The other application is to generate premium income via a covered call. In this plan, the trader holding AVAX call options sells his/her current positions in the spot markets. These two strategies are founded on a predetermined risk profile of options contracts. The maximum or set loss is a fixed amount that option buyers can lose, compared to the option sellers who gain premium income at the expense of bearing some obligations at the market.

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