The Nasdaq stock exchange wants to list binary options tied to its flagship stock indexes, a move that would let traders place yes-or-no bets on the direction of major equity benchmarks like the Nasdaq-100.

In a Monday filing with the U.S. Securities and Exchange Commission (SEC), the exchange said it also plans to offer binary options on the Nasdaq-100 Micro Index.

A binary option is a bet with only two outcomes. Either the condition is met, and the bettor walks away with a profit, or the option expires worthless. Nasdaq’s proposed contracts would be priced between 1 cent and $1, reflecting the market’s view of the probability that a specific outcome will occur.

If approved, the products would function similarly to contracts on prediction market platforms such as Polymarket and Kalshi, giving traders a new way to express short-term views on the performance of one of the market’s most closely watched stock indexes.

The filing marks Nasdaq’s entry into a fast-growing corner of derivatives markets that blends traditional finance with the mechanics of prediction platforms. Rival exchange Cboe also announced plans to expand into the prediction markets business as interest in event-based trading has surged.

That push follows the rapid growth of platforms such as Polymarket and Kalshi, which allow users to trade on the outcomes of events ranging from elections to economic data releases. Those platforms are regulated by the Commodity Futures Trading Commission (CFTC) because they offer event contracts tied to real-world outcomes.

Binary options, however, fall under the SEC’s jurisdiction. Nasdaq’s proposal underscores how established exchanges are seeking to adapt the prediction-style format to regulated securities markets. Nasdaq had not responded to a request for comment by publication time.

Crypto exchanges have also moved quickly.

Coinbase recently rolled out prediction markets on its platform, giving digital asset traders access to contracts linked to political, economic and cultural events. Gemini received CFTC approval in December to operate as a Designated Contract Market (DCM), allowing the firm to offer regulated prediction markets to U.S. customers.

Qivalis, the group of European Union banks developing a MiCA-compliant euro stablecoin, is in advanced discussions with crypto exchanges, market makers and liquidity providers as it prepares to roll out in the second half of this year, Spanish business daily Cinco Días reported on Monday.

The group, which includes ING, UniCredit, BNP Paribas, CaixaBank and BBVA, wants to ensure the token is available on regulated trading platforms from day one to ensure liquidity, according to Qivalis CEO Jan Sell.

The initiative is designed to provide a European alternative to the U.S.-dominated stablecoin market, contributing to the EU’s strategic autonomy in payments, the banks said. A euro-pegged token would allow businesses and consumers in the bloc to make blockchain-based payments and settlements using euros, without relying on traditional financial rails or foreign third-party providers.

The Netherlands-based venture is considering European and international venues as it seeks to position the stablecoin as a regulated alternative to U.S. dollar-denominated tokens and a tool for real-time cross-border corporate payments.

Spanish crypto exchange Bit2Me confirmed it has held talks with one of the group’s banks, though most platforms declined to comment.

Qivalis did not immediately respond to a CoinDesk request for confirmation.

According to Cinco Dias, Qivalis also disclosed details about the token’s reserve structure. The stablecoin will be backed 1:1, with at least 40% of reserves held in bank deposits and the remainder allocated to high-quality, short-term euro-area sovereign bonds diversified across EU countries. The reserves will be held with multiple highly rated credit institutions, and the design includes 24/7 redemption for token holders.

The consortium is seeking authorization from the Dutch central bank under the EU’s Markets in Crypto-Assets (MiCA) framework.

XRP (XRP) risked a further drop below $1 as its bearish technical setup converged with increased inflows to exchanges.

Key takeaways:

XRP faces overhead resistance at $1.42

XRP’s 13% rally to $1.43 between Saturday and Sunday ran into a resistance wall at $1.39-$1.43, causing it to retrace to the current price of $1.34.

The cost-basis distribution heatmap shows that a large cluster of supply is within this area, where nearly 1.48 billion XRP were acquired over the last 30 days. This marks an area of stiff resistance for XRP, limiting upside potential.

The daily XRP price chart below shows that this area coincides with the upper trend line of a symmetrical triangle, which has suppressed the price since Feb. 1.

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The XRP/USD pair is trading below the lower trend line of the triangle at $1.35. A daily candlestick close below this level would validate the symmetrical triangle, clearing the path for a deeper correction. 

The measured target of the prevailing chart pattern, calculated by adding the triangle’s height to the breakout point, is $0.95, about 29% below the current level.

As Cointelegraph reported, a break and close below the lower boundary of a falling channel at $1.20 puts the Feb. 6 low of $1.11 at risk of breaking down. XRP may then tumble to the psychological support at $1.

Analyst BitGuru commented on the support level at $1.20-$1.22, saying:

“If this base holds and buyers step in, a rebound toward $1.80–$2.20 could happen quickly, signaling the start of a recovery move.”

Meanwhile, the two-day chart also puts a drop to $0.80 in play, fueled by selling from whales.

XRP supply on exchanges rises

Over the past week, more than 472 million XRP, worth about $652 million, were transferred to Binance, marking the largest inflow to exchanges in February, according to data resource CryptoQuant.

The transfer of tokens to exchanges often signals a potential willingness to sell or at least to position liquidity closer to the market.

“Such inflows typically reflect a more defensive posture from investors holding XRP,” CryptoQuant analyst Darkfost said in a QuickTake note on Monday, adding:

“When the amount of flows like this are recorded, they can create the conditions for a sudden wave of selling pressure capable of impacting price action in the short term.”

As a result, XRP balance on Binance has grown to 2.73 billion tokens from 2.55 billion in mid-February. This represents a total increase of about 180 million (+7%) in less than three weeks.

Increasing XRP supply on exchanges is a classic bearish signal that can outpace demand, increasing sell-pressure.