Summary
- Said that open interest (OI) in perpetual futures for XRP (XRP) and Solana (SOL) listed on the CME hit an all-time high.
- Tim McCourt, CME head, said the record shows investors are seeking risk management and market growth opportunities through regulated futures markets.
- The phenomenon is seen as a signal that the derivatives market centered on Bitcoin (BTC) and Ethereum (ETH) is gradually expanding to major altcoins.
Open interest (OI) in perpetual futures for XRP and Solana (SOL), listed on the U.S. Chicago Mercantile Exchange (CME), has reached an all-time high.
According to CoinDesk on the 29th (local time), total open interest for XRP and Solana futures on the CME approached $3 billion. The number of open contracts for XRP standard and micro contracts was 9,900, and for Solana standard and micro contracts it was 15,600.
Tim McCourt (Tim McCourt), CME global head of equity and FX products, said, "This record shows that investors seeking exposure to digital assets prefer regulated futures markets to manage risk and capture market growth opportunities."
Solana futures were listed on the CME in March this year and surpassed $1 billion in open interest last August. In the case of XRP, futures exceeded the same level within three months of launch.
The record is interpreted as a sign that the derivatives market centered on Bitcoin (BTC) and Ethereum (ETH) is gradually expanding to major altcoins. The outlet assessed, "There is strong investment demand for regulated crypto asset products."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
