XRP futures open interest reaches $1.2 billion record
Positive news regarding the SEC lawsuit saw XRP price rally above $1 and its futures open interest to reach an all-time high. XRP price's journey to $1 this year has been nothing short of spectacular, considering the ongoing Securities and Exchange Commission's lawsuit against Ripple initiated in December 2020. The regulator alleges that XRP was a $1.3 billion unregistered securities offering and both CEO Brad Garlinghouse and co-founder Christian Larsen are also in the crosshairs.On April 6, Ripple Labs was granted access to the U.S. SEC's documents "expressing the agency's interpretation....
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Open interest in Bitcoin futures is soaring but volumes are falling. Open interest in Bitcoin futures has surged to new record highs ahead of Coinbase’s April 14 direct listing on the Nasdaq.Crypto market data aggregator Glassode states that Bitcoin open interest has exceeded $27 billion for the first time as Bitcoin pushed into new record highs above $63,000. The milestone suggests traders may be speculating on higher prices, although some may also be hedging against incoming volatility.#Bitcoin Futures Open Interest across major exchanges reaches record highs of more than $27B as $BTC....
The open interest of Polkadot futures soared to $1 billion, eclipsing Litecoin and XRP to make DOT the third-largest futures market. On March 24, the price of Polkadot's DOT token corrected by 23% in a brief six-hour period, resulting in $174 million in liquidations across the futures market. This swift downside move also cut the aggregate open interest by 26%. Now that DOT's open interest is climbing to a new record high at $1 billion, investors may be worried that another price crash is on the way.DOT/USDT on Binance. Source: TradingViewAlthough the event severely hurt leveraged longs at....
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....
Bitcoin futures open interest on Monday has crossed $23 billion according to data recorded on April 5. The crypto asset exchange Binance has taken the lead as far as open interest in bitcoin futures is concerned with a massive $10.5 billion in open interest. Binance Captures the Bitcoin Futures Lead Not too long ago, Bitcoin.com’s newsdesk reported on CME Group capturing the lead as far as open interest in bitcoin futures. Today, that’s no longer the case, as Binance has jumped ahead of the pack as far as delivering futures derivatives products for BTC. Skew.com analytics....
Bitcoin may be en route to retest underlying support levels but the record $22.5 billion open interest on BTC futures shows bulls expect the uptrend to continue. Bitcoin (BTC) price has rallied 22.5% in March, but as the price moved up, some buyers began to use excessive leverage, according to derivatives data. Meanwhile, futures open interest reached a $22.5 billion record-high, causing investors to question how sustainable the current rally is.Being optimistic, especially during a bullish market, can't be deemed worrisome. Still, a yellow flag is raised when buyers use excessive leverage....