The data show that the number of Futures XRP on CME has reached a modern diary, which is a potential sign of growing institutional interest in cryptocurrency.
The total Futures XRP CME volume exceeded $ 1.6 billion
According to the data with CME Dynamic TraderThe official handle of the 10th CME group focused on trade, the combined Futures XRP and Micro XRP volume set a modern record on Friday. The CME Group is the largest market for derivative instruments in the world, supporting many platforms such as Chicago Mercantile Exchange. The company offers adjustable Futures products and options in a wide range of asset classes, including cryptocurrencies.
Bitcoin Futures Trading was added to the platform in 2017, and Ethereum offers became available in 2021. Futures XRP was finally launched in May this year.
Trade Futures is available in two forms for the resource: XRP and Micro XRP. The first features of the contract with dimensions per 50,000 tokens each, and the second offers a smaller size of 2500 tokens per contract.
After establishing milestone on July 11, over 9,100 Futures CME contracts for assets, which corresponds to over 82 million coins or $ 235 million. “The record emphasizes the rapidly growing demand in our new Futures XRP package,” noted CME Dynamic Trader in X Post. Since the premiere of Total NoteDal Tradeded has been $ 1.6 billion.
The CME Group is widely considered the preferred platform of derivative instruments for institutional traders, thanks to its regulated offers. As such, the augment in Futures trading on the stock exchange may indicate a growing demand among institutions.
Futures trade on CME reflects only one side of the sector. Here’s how the combined Futures indicators related to the resource are currently looking for all platforms, according to Glass knot data:
Indicators related to the futures market for the major assets in the sector | Source: Glassnode
Although the commercial activity related to the token could augment on Friday, the latest trend is a decrease, because the number of time -to -replace contracts has dropped by more than 40% in the last 24 hours.
After saying, the daily volume is still $ 8.4 billion per cryptocurrency, which is greater than other main altcoins, save Solana at the level of $ 9.1 billion. Bitcoin has the highest volume is $ 78.6 billion, but its indicator in relation to market capitalization (0.033) is worse than XRP (0.048).
Financing rates are currently positive on the market, which suggests the degree of long -term domination. Dogecoin and Throne seem to receive the most stubborn plant, and the record is 0.0143% and 0.0121%, respectively.
XRP follows them with a 0.0113%financing indicator. Therefore, while commercial activities could have been falling during the last day, the sentiment around the assets remains positive.
The price of token
XRP witnessed a piercing growth by over 24% last week, which led to USD 2.95.
Looks like the price of the coin has been moving up in recent days | Source: XRPUSDT on TradingView
A distinguished picture from Dall-E, Glassnode.com, Chart from TradingView.com
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