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Check out U.Today's top three news stories over the past day.
XRP holders urged to mark their calendar for this date
According to a recent announcement by CME Group, it will soon launch a new product, XRP futures. The product is expected to go live on May 19. CME's plans to introduce XRP were accidentally revealed through a leak via beta webpage; later in April, XRP officially confirmed the futures launch, shortly after CME introduced Solana futures. Last July, the Chicago-based derivatives giant rolled out XRP pricing indices, which signaled the growth of XRP's institutional adoption. The introduction of XRP futures is seen as a key step toward potential spot ETF approvals later this year, with several major firms already applying. At press time, XRP is trading at $2.56, up 1.82% over the past 24 hours. Analysts are now watching to see how the futures launch could affect the asset's price, drawing parallels to Bitcoin's 2018 surge following CME's Bitcoin futures debut.
Dogecoin's OI sees massive 64% surge
In a recent X post, Glassnode reported a 63% increase in Dogecoin's futures open interest over the past week. The increase took place despite the fact that Bitcoin's price has significantly declined from its recent high. As a result, the total value of open futures positions grew from $989 million to $1.62 billion. According to Glassnode, this "decoupling" indicates intense speculative positioning, meaning that traders are betting more on Dogecoin's price action. Per CoinMarketCap data, Dogecoin's price has surged by 34% over the past week, making it the top-performing altcoin in the top 10. As reported by U.Today, Global Macro CEO Raoul Pal has recently opined that DOGE could potentially reach new highs against Bitcoin.
Tether will flip Ethereum this year, Samson Mow says
The market capitalization of the U.S. Dollar Tether (USDT), a USD-pegged stablecoin by Tether Limited, has recently exceeded $150 billion, currently standing at $150,371,999,375. Following this development, JAN3 CEO Samson Mow took to social media, stating that USDT could become the biggest altcoin as soon as this year, potentially surpassing Ethereum’s $303 billion market cap. "I said it before and I’ll say it again. Tether will flip Ethereum this year," wrote Mow, commenting on a celebration X post of Tether and Bitfinex CEO Paolo Ardoino, in which he hinted at USDT's future milestone of $1 trillion. Meanwhile, USDT’s Tron-based version has overtaken its Ethereum counterpart in market cap due to fast operation speeds and lower on-chain commissions.
Vladislav Sopov
Dan Burgin