Open interest (OI) for CME Group’s XRP futures recently hit a new record high of more than 6,000 contracts.
More than 251,000 contracts have now been traded over the past several months with notional volume of more than $9 billion.
The size of the standard XRP contract is 50,000 XRP, which is worth $145,000 at current prices. There are also micro contracts with the size of 2,500 that are suitable for retail traders.
As reported by U.Today, XRP contracts finally went live in May after the Chicago-based trading behemoth initially leaked its plans to launch the product in January.
According to data provided by CoinGlass, the overall open interest of XRP futures currently stands at 2.59 billion tokens ($7.45 billion).
Current OI rankings
The Bitget cryptocurrency exchange has emerged as an unlikely leader in the race, with an OI of $1.72 billion.
Binance, the leading cryptocurrency comes in second place with OI of $1.17 billion.
CME, meanwhile, comes in a respectable fourth place with $930 million.
OKX, KuCoin, MEXC, and Hyperliquid are also in the top 10.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team