Trading activity in altcoin options is heating up on PowerTrade as crypto market volatility intensifies. Traders are increasingly using options contracts to hedge against risks or to speculate on quick price moves, with altcoins like XRP, SOL, and DOGE at the center of this growing trend.

According to data from PowerTrade, XRP options trading volume surged past $5 million this week, showing a notable increase in market participation. The activity has primarily focused on short-dated contracts, suggesting traders are looking to capitalize on quick price swings. Most of the flow has been evenly split between call and put options, specifically at strike prices between $1.80 and $1.98 for puts and $1.80 to $1.93 for calls. This balanced approach indicates that market participants are positioning for significant near-term price action in either direction.

XRP has been particularly volatile lately, sliding to a five-month low of $1.61 earlier in the week before rebounding to $2. This kind of price movement tends to draw interest in options as a strategic tool for both protection and speculation. A call option allows the holder to buy the asset at a set price within a specific time, indicating a bullish stance. In contrast, a put option reflects a bearish outlook, offering protection against falling prices.

Solana’s native token, SOL, also witnessed increased hedging activity. As the broader financial markets reacted to geopolitical tensions, especially the ongoing U.S.-China trade a tensions, traders bought puts with strike prices ranging from $104 to $121. SOL briefly dipped to $95 during the week but quickly recovered to $115, underlining the volatile nature of current trading conditions.

Despite macroeconomic uncertainty, Dogecoin attracted attention from momentum-driven traders looking to catch short-term upward moves. DOGE dropped to as low as 13 cents earlier this week but rebounded to nearly 15.7 cents. Though it remains down over 65% from its December high of 48 cents, traders remain eager to place short-term speculative bets. Popular strike prices for DOGE call options included 14.5, 15.5, 17.5, and 18 cents—all expiring by April 13.

According to Bernd Sischka, head of institutional sales at PowerTrade, these short-dated options reflect momentum trading strategies that are likely influenced by social media buzz and rapid market developments. He noted that “short-dated expiries and directional bets are driving altcoin options into the spotlight,” pointing to a shift in market behavior where traders are using low-cost, high-risk options for quick gains.

While the altcoin options segment is still much smaller than the dominant bitcoin and ether options markets led by Deribit, it’s growing steadily. PowerTrade’s platform is a  becoming a hotspot for traders seeking tailored exposure to less mainstream cryptocurrencies, especially as price swings and headline-driven volatility continue to influence trading sentiment.

Overall, the surge in altcoin options trading underscores a maturing derivatives market in the crypto space. Traders are increasingly turning to complex financial instruments to navigate an unpredictable landscape, with XRP, SOL, and DOGE proving to be the focal points in this new wave of activity. As volatility remains high and uncertainty persists, demand for strategic plays through options is likely to continue climbing, keeping altcoin derivatives in sharp focus.