XRP Futures Volume on the CME Hit a Record $235M
Main Idea
The Chicago Mercantile Exchange (CME) recorded a record trading volume of over $235 million in its XRP futures market on Friday, reflecting growing demand for cryptocurrency derivatives.
Key Points
1. The CME's XRP futures market saw a record trading volume of $235 million on Friday, the highest since its inception on May 19.
2. Cumulative trading volume for XRP futures on the CME has reached $1.6 billion since launch.
3. CME's bitcoin and ether futures are widely regarded as benchmarks in the cryptocurrency derivatives market.
4. Ripple, which utilizes XRP for cross-border transactions, has applied for a Markets in Crypto Assets (MiCA) license to expand into the European Union.
Description
The CME's nascent XRP futures market is growing fast as sophisticated investors gravitate to the payments-focused cryptocurrency. Together, the standard and micro futures registered a total trading volume of $235 million on Friday, the highest on record. The tally takes the cumulative trading since inception on May 19 to $1.6 billion, according to data source CME Active Trader. "The record underscores the rapidly growing demand in our new XRP futures suite," Active Trader said on X . The CME is ...
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