"XRP Emerges as the Most Noteworthy Virtual Asset on the CME Group"

YM Lee

Summary

"XRP has reportedly emerged as the most noteworthy virtual asset on the CME derivatives platform just one month after its debut."
"Following its debut on the CME futures exchange, in just one month, XRP's total trading volume reached $542 million and open interest climbed to $70.5 million."
"It was interpreted that, with 45% of trading volume originating from outside North America, global investor demand is drawing considerable attention."

XRP has rapidly risen to become the most prominent virtual asset (cryptocurrency) on the Chicago Mercantile Exchange (CME) derivatives platform, just one month after its debut.

On the 25th (local time), the cryptocurrency-specialized media outlet Cryptopolitan reported, "XRP debuted on the CME futures exchange on May 19 through two products: XRP and Micro XRP, and has demonstrated strong demand from both institutional and individual investors since then. In just one month after launch, total trading volume reached $542 million, with open interest rising to $70.5 million."

The outlet interpreted, "The growth in the XRP futures market is related to strategic moves by Ripple Labs, the launch of a stablecoin, and the expansion of enterprise use cases. Notably, as 45% of trading volume occurred outside North America, interest from global investors appears to be very high."

XRP