Altcoin Options Trading Heats Up on PowerTrade: A Data-Driven Look and How-To Guide | by Federico | May, 2025

The world of altcoins moves fast — one day it’s a new meme token mooning, the next it’s a top-10 alt surging on ETF rumors. As volatility and interest in altcoins grow, traders are increasingly turning to options to capitalize on these swings. Unlike trading on majors like BTC or ETH, altcoin options let you leverage price moves in tokens like XRP, SOL, and even memes like TRUMP100. PowerTrade has emerged as a go-to platform for this niche, offering a wide selection of altcoin options on both a centralized exchange (CEX) and a decentralized DEX interface. In fact, PowerTrade is recognized as a leading altcoin options exchange, with an industry-leading selection of over 80+ altcoin option markets (in addition to BTC and ETH) and more than 100,000 option contracts listed at any given time. This means traders can find options on a vast array of tokens with expiries from same-day to six months out — flexibility unheard of on other platforms.

In this article, we’ll dive into yesterday’s altcoin options trading data on PowerTrade to uncover what intermediate traders can learn. We’ll see which altcoins and meme coins attracted the most action, what the balance of call vs. put buying suggests about market sentiment, and where traders might be hedging. Visual charts will help illustrate the trends. Finally, we provide a step-by-step guide to trading altcoin options on PowerTrade, covering both the CEX and DEX (PowerDEX) flows. Whether you’re eyeing that next memecoin moonshot or looking to hedge your altcoin bag, this guide will show you how to do it on PowerTrade’s platform. Let’s jump in!

To gauge market sentiment, we analyzed the previous day’s option trades across major altcoins and popular memecoins on PowerTrade. The data offers a snapshot of where traders are placing their bets and protections. Overall, calls dominated puts by a wide margin, indicating a bullish tilt in expectations. Out of 150 option trades logged, calls accounted for roughly 73% of trades and about 90% of total traded volume (notional) — a striking imbalance. In simple terms, traders overwhelmingly bought call options (which profit from price increases) on altcoins, far outpacing put options (which profit from price declines or provide downside protection). This dominant call-buying trend is a strong signal that the market was leaning bullish on altcoins in that 24-hour window.

Drilling down by asset, the trading activity was concentrated in a mix of established altcoins and trendy meme tokens, all seeing heavy call buying. XRP stood out as a top mover: traders snapped up calls on $XRP in huge size, making it the single largest options market of the day by notional value. Solana ($SOL) also saw exclusively call trades, reflecting optimism on this major alt’s upside. Among the memecoins, $WIF1000 and $TRUMP100 (both tokens with playful origins riding on crypto meme trends) saw significant call volume and virtually no puts. This suggests speculative fever — traders are paying premiums for calls, essentially buying lottery tickets that these coins will shoot up. Such one-way traffic (calls only) across these assets clearly paints a picture of bullish sentiment: traders are positioning for potential big moves upward in both mainstream alts and high-risk meme coins.

As shown in the chart, calls (blue) dwarfed puts (orange) across almost every asset. For example, XRP options trading was almost entirely calls — over $3.1 million in XRP call notional traded versus only about $63k in puts. That means traders were largely betting on XRP’s price rising, possibly anticipating bullish news or momentum. Similarly, Solana saw around $665k worth of calls traded and zero puts, indicating unanimous bullish bets on $SOL. Meme tokens followed the pattern: $WIF1000 had about $619k in calls vs just ~$96k in puts, and $TRUMP100 had roughly $393k in call volume with no puts traded at all. This one-sided flow into calls for WIF1000 and TRUMP100 implies traders were speculating on explosive upside in those meme coins — a classic high-risk, high-reward play.

Notably, Ethereum ($ETH) (not shown in the chart above) was an outlier among majors, with a number of put trades exceeding its call trades (21 ETH puts vs 6 calls in count). This could reflect some hedging on ETH or a cautious stance by certain traders, even as they were bullish on other alts. Overall, however, the broad takeaway is that bulls were in control of the altcoin options market on PowerTrade that day. The prevalence of call-buying hints at optimistic trader expectations — perhaps anticipating rallies in these coins, or positioning to profit from any hype that sends prices soaring.

While bullish fever gripped most altcoin options, there were a couple of notable pockets of defensive positioning. Two assets in particular saw significant put option activity: $PAXG and $ENA10000. PAX Gold ($PAXG), a token pegged to physical gold, saw puts being traded exclusively — six put trades and no calls. This is interesting because PAXG is a proxy for gold; traders buying puts on PAXG could be hedging against a potential drop in gold prices or a broader market downturn. In other words, they might be seeking insurance on a traditionally “safe” asset — perhaps expecting that even gold-linked tokens aren’t immune to crypto market volatility.

The $ENA10000 token also showed an unusual balance of activity: roughly equal number of call and put trades, but with put volume far outweighing calls in value. In the chart above, ENA10000’s orange bar (puts) is much larger than its blue bar (calls). This suggests that some traders were using puts on ENA10000 as protection or a bearish bet. It’s possible ENA10000 holders were hedging a large position via puts, or generally that market participants felt this particular asset had near-term downside risk requiring insurance. While we won’t dive into what ENA10000 represents, the key point is that it was an exception to the day’s call-buying frenzy — here, puts served as a hedging tool.

These pockets of put activity in PAXG and ENA10000 highlight that not every trader was simply speculating on moonshots; some were mindful of risk and used options for their classic purpose — hedging. Such behavior is common in a mature market: even amid bullish sentiment, there are investors protecting their downside on certain assets.

Bringing it all together, the dominance of call buying across altcoins and meme coins indicates a broadly bullish market sentiment among traders on PowerTrade. Calls give the right to buy at a fixed price, so heavy call demand often means traders are anticipating price increases (or at least want leveraged exposure to upside). The fact that nearly 90% of the option volume was in calls is a strong vote of confidence in the altcoin market’s upside potential. Whether it was excitement over major altcoins like XRP and SOL (perhaps due to positive news or technical breakouts) or pure speculative mania in memes like TRUMP100, traders were largely positioning to profit from upward moves.

At the same time, the targeted use of puts in assets like PAXG and ENA10000 suggests savvy risk management running in parallel. Some participants are hedging bets, aware that what goes up can come down. This mix of rampant call-buying and selective hedging paints a picture of a market that is optimistic but not naive. For an intermediate trader, these insights are valuable: they reveal where the crowd is exuberant (and one might consider whether that exuberance is justified), and where there is caution (potentially flagging assets that warrant closer fundamental look or that might lag if the market turns).

In summary, yesterday’s data showed a vibrant altcoin options market on PowerTrade, with traders largely betting on further gains in alt prices. It underscores why having access to options on a platform like PowerTrade is powerful — you can speculate on the hottest alts’ upside, and also hedge your crypto portfolio, all in one venue.

If you’re ready to join the action, here’s a quick step-by-step guide to trading altcoin options on PowerTrade. Uniquely, PowerTrade offers both a traditional centralized exchange and a decentralized on-chain trading experience (PowerDEX). We’ll outline both methods below. The process is straightforward, even if you’re new to options, and the platform is designed to be user-friendly for traders. Follow these steps to start trading:

1. Create a PowerTrade Account: Sign up on the PowerTrade exchange via the invite link. It’s a quick process — just register with your email, set up 2FA, and complete any required KYC verification. If you already have an account, simply log in.
2. Fund Your Account: Deposit funds into your PowerTrade wallet so you have collateral to trade options. You can deposit cryptocurrencies (BTC, ETH, USDC, etc.) or supported stablecoins. Many traders prefer depositing stablecoin (like USDC) as options are typically quoted in USD terms. The deep liquidity on PowerTrade’s CEX ensures that even larger orders can be executed with tight spreads, so feel confident funding what you plan to trade.
3. Navigate to Altcoin Options: Once funded, go to the trading interface and select the Options section. Browse the list of available markets — PowerTrade’s CEX offers 80+ altcoin options markets from major coins to niche tokens. You can find options for coins like XRP, SOL, and many meme tokens (WIF1000, TRUMP100, etc.) in this list. Use the search bar if needed to locate a specific asset’s options.
4. Select Contract Parameters: Choose the altcoin and specific option you want to trade. Options are listed by expiry date, strike price, and type (call or put). For example, you might pick an XRP call expiring in 30 days with a strike of $0.80. The interface will display the premium (price) for that option. Decide whether you want to buy or sell the option — buying a call is a bullish bet, buying a put is a bearish/hedging bet. (Selling options is also possible for advanced strategies, but be mindful of the risks and margin requirements.)
5. Place Your Trade: Enter the quantity (number of contracts) you want and set your order type (market or limit). A market order will fill immediately at the best available price (useful if you need to get in or out quickly), while a limit order lets you set a specific price to potentially get a better fill. Review the cost (premium * quantity) and ensure you have sufficient balance. Then confirm the order. PowerTrade’s matching engine is high-speed, so your trade will execute almost instantly. You’ll see the filled order in your portfolio or open positions.
6. Monitor and Manage: After trading, keep an eye on your option position in the account dashboard. You can track its current value as the underlying price moves. If the trade goes in your favor (e.g., the altcoin’s price rallies for your call option), you could choose to close the position early by selling the call option before expiry to lock in profit. Alternatively, you can hold until expiration — in which case the platform will settle the option (ITM options might automatically exercise, converting to the underlying or cash payout as per PowerTrade’s specs). If the trade goes against you, risk is limited to the premium paid (for option buyers), so your downside is capped — one of the key advantages of options.

1. Connect Your Wallet: Go to the PowerTrade DEX interface (also known as PowerDEX). You’ll be prompted to connect a Web3 wallet. Use a wallet like MetaMask (for Ethereum/Base) or any supported wallet. Currently, PowerDEX operates on Ethereum and Coinbase’s Base network (in a few days it will be available on Solana too), so ensure your wallet is on one of these networks for trading. (Note: If you don’t have funds on these networks, you might need to bridge assets over. USDC on Ethereum or Base is a common choice for trading on PowerDEX.)
2. Prepare Funds in Wallet: Since this is decentralized, trades use your wallet funds directly. Make sure you have the necessary tokens available. Typically, you’d want a stablecoin (e.g. USDC) to pay option premiums and possibly ETH or BASE for gas fees (though PowerTrade’s DEX is designed with low gas in mind). Having a bit of the native network token (ETH or BASE) in your wallet is required to cover transaction fees.
3. Select an Option Market: The DEX interface will present the list of available altcoin option markets (similar to the CEX selection). Find the altcoin you’re interested in and pick the specific option contract (expiry & strike). The UI on PowerDEX closely mirrors a centralized exchange experience — you’ll see order books or pricing for the option. Because it’s on-chain, you might also see an estimated gas fee for the transaction, but thanks to optimizations, trading on PowerDEX is pretty efficient and low-cost.
4. Place a Trade On-Chain: Input your order details just as you would on the CEX — quantity and price (or use market order if available on the DEX). When you submit the order, your wallet will trigger a transaction. Approve the transaction to allow the smart contract to interact with your funds (for the premium). Once you confirm, the trade will be executed on-chain. PowerDEX leverages fast networks, so your trade should confirm within seconds to a minute. The result: you now hold the option in your wallet (or the position is recorded for you via the smart contract). No centralized party holds custody of your option — it’s yours on the blockchain.
5. Managing Your DEX Position: After trading, you can monitor your option positions through the DEX interface. If you want to exit before expiry, you can create an order to sell the option (or buy to close, if you had initially sold one). This will again be an on-chain transaction. Keep an eye on expiration dates — if you hold until expiry, settlement will occur automatically via the smart contract. Since PowerDEX is non-custodial, you retain control of your assets at all times, but it also means no auto-debit of margin — the trade will only use the funds you explicitly put in. This setup gives you a nice balance of control and flexibility, essentially the best of both worlds: decentralized trading with a smooth UX.

The surge of altcoin options trading activity on PowerTrade — with a clear bias toward call buying — reflects the growing optimism and participation in the altcoin market. Intermediate traders can glean that the crowd is bullish on many altcoins (and even meme coins), using options to amplify their bets. At the same time, prudent use of puts for hedging shows how options add value beyond simple speculation. Platforms like PowerTrade make this all accessible: you can express almost any market view, from betting on a meme coin moonshot to safeguarding your portfolio against downturns, all on one platform.

PowerTrade’s dual offering of a high-performance CEX and a DeFi-friendly DEX is a game-changer for crypto options traders. It doesn’t matter if you prefer the convenience of a centralized order book or the sovereignty of on-chain trading — PowerTrade has you covered on both fronts. With its vast selection of altcoin option markets, deep liquidity, and intuitive interfaces, it’s no surprise that many recognize PowerTrade as the place to be for altcoin options.

As altcoin season stirs and new opportunities arise daily, having options in your trading toolkit can give you an edge. PowerTrade provides the tools to seize that edge, whether your strategy is chasing upside or covering your downside. If you’re an intermediate crypto trader looking to level up, consider diving into altcoin options on PowerTrade’s platform. The next time $XRP or $SOL starts breaking out — or the next meme coin captures the market’s imagination — you’ll be ready to trade not just the spot market but the options too, positioning yourself for profit while managing risk like a pro. Happy trading, and see you on PowerTrade!