The market for crypto derivatives has reached a new milestone. CME Group announced that his notional open interest rated $ 30 billion for the first time, which has shown a strong participation of both institutional and retail traders.
Read on to know who the ‘big’ winners are.
XRP and Sol -Futures See Record Demand
CME confirmed that Sol and XRP -Futures, together with ETH options, each exceeded $ 1 billion of open interest, with XRP -Futures that achieved the fastest growth so far and reached the milestone in just over three months.
The increase indicates an increasing duration in the crypto ecosystem with new capital that comes in the markets.
Lawyer Bill Morgan Also emphasized the milestone and noted that XRP is the fastest CME Future contract to exceed $ 1 billion in open interest. CME’s XRP and Micro XRP -Futures have traded 251K contracts in three months, with a trade volume of $ 9.02 billion and $ 12 million in their XRP equivalent.
Momentum has been strong. On August 18, Open Interest reached a new highest point of More than 6,000 contracts. In July, XRP-Futures achieved a record of $ 235 million, which reflects a strong demand and a growing interest rate from Tradfi investors.
Expansion of Crypto -Futures
The CME group recently launched Sol and XRP -Futures, both in standard and micro -sizes, and expanded its bitcoin and ether derivatives suite. This gives both institutional and retail investors more ways to participate in the growing crypto market.
In the meantime, Bitcoin and Ethereum now have $ 16 billion and $ 10.5 billion in open interest respectively. The CME Group also reported that Treasury Futures Open Resent has surpassed 24 million contracts for the first time.
Gemini introduces XRP Rewards -credit card
In a final developing, Gemini has launched an XRP Rewards credit card in collaboration with Ripple, with a maximum of 4% cashback in XRP with selected purchases. It also extends the use of Ripple USD (RLUSD) to customers in the United States.
In the meantime, XRP is currently being traded at $ 2.92, a decrease of 0.8% in the last 24 hours in the middle of a wider market decline. According to data from CoinglassXRP Futures Open interest is currently more than $ 7 billion, a decrease of more than 3% in the last 24 hours.