XRP Open Interest Rises as VivoPower Expands Mining and Treasury Holdings
- XRP’s futures open interest increased to $8.45 billion, recovering from a decline of 30% in August.
- VivoPower plans to swap mined tokens for XRP, aiming to accumulate the token at a discounted rate.
- The company raised $121 million to establish an XRP treasury and dynamically manage its allocations.
- VivoPower intends to invest up to $200 million in yield strategies using XRP through partnerships with blockchain firms.
- The firm also deployed $100 million worth of XRP onto Flare Networks for decentralized finance revenue generation.
The rise in open interest signals renewed speculative activity among traders, coinciding with VivoPower’s strategic moves in the cryptocurrency space. This includes expanding its treasury holdings and exploring yield opportunities through partnerships.
As VivoPower enhances its treasury strategy, XRP’s open interest rebound indicates growing trader confidence, with figures rising from $7.7 billion last month to current levels of $8.45 billion.
