XRP and Solana Futures Reach Record $3 Billion Open Interest on CME
- Open interest in XRP and Solana futures and options hit a record $3 billion on the Chicago Mercantile Exchange (CME).
- Around 9,900 XRP contracts and approximately 17,400 Solana futures contracts were opened during this period.
- Solana futures launched in March, quickly surpassing $1 billion in open interest by August.
- XRP futures reached a notional volume of $26.9 billion in October with over 567,000 contracts traded.
- CME plans to offer cryptocurrency futures trading around the clock pending approval.
The surge in open interest for XRP and Solana highlights their growing acceptance among institutional investors as viable alternatives to Bitcoin and Ethereum in the derivatives market.
This record milestone reflects increased investor confidence and activity, marking a significant shift towards altcoin derivatives on CME’s platform.(Source)
