SOL still leads XRP in terms of futures open interest on Kraken and other exchanges.
According to recent reports, XRP slid about 15% after peaking at $3.66 on July 18, wiping out roughly $2.4 billion in open futures positions. That sharp drop has traders debating whether to hunker down or scoop up XRP near the $2.60 mark. Rally Driven By Big Bets XRP’s surge from $2.17 on July 1 to $3.66 by July 18 was powered by a surge in open interest that peaked at $11.2 billion in dollar terms. That means a lot of traders had large positions riding the upswing. Related Reading: Countdown To August 15: What XRP Investors Need To Know Since then, open interest has fallen to $8.8 billion, a 20% drop in US dollar value. In XRP units, contracts fell 10% to 2.80 billion. Liquidations of roughly $325 million over the two weeks ending July 25 show some of those big bets were wiped out. Futures Traders Hold Steady Annualized futures premiums for monthly XRP contracts have stayed in a 6% to 8% range. That suggests traders aren’t panicking even after the price dipped below $3. Short‑term swings didn’t spark a rush into bullish bets when XRP briefly rose past $3.60, slowing the risk of more forced exits. The calm premium levels hint that professional players remain cautious but not overly concerned. Growing chatter about a US spot ETF for XRP has added to the mix. Ether products crossed $18 billion in assets under management, so some expect a similar boost if a spot‑XRP ETF wins approval. But approvals can take many months, and nothing is certain. Rumors about banks or a tie‑up with SWIFT have popped up online without proof. Traders know that hype only lasts so long when there’s no real deal. On‑Ledger Activity Trails Peers DeFi use on the XRP Ledger is still small. According to RWA.xyz data, just $134 million of tokenized assets sit on the network, compared with $190 million on Avalanche. Decentralized exchange volume barely makes the top 50 chains. DefiLlama shows Sui recorded $13 billion in 30‑day DEX trading, and Sei handled $1.43 billion. Those gaps show that XRP’s on‑chain tools haven’t drawn the same crowd as rival networks. Related Reading: Bitcoin Ain’t ‘Better’, ADA Is, Cardano Founder Says Looking ahead, clear growth in real‑world use could help XRP break out of its current $3.00–$3.15 range. For now, traders are watching both price action and on‑chain metrics. It may take fresh catalysts beyond ETF hopes to drive sustained gains. Until then, the market could stay choppy and reactive to any big swings in open interest. Featured image from Meta, chart from TradingView
Bitcoin (BTC) rebounded from a local low near $114,800, closing last week about 2.1% higher at $119,580 and turning the range floor into tentative support, according to Bitfinex Alpha’s July 28 report. The recovery has stabilized spot prices, but derivatives data suggest a more fragile backdrop as leverage rebuilds across major and altcoins. Leverage runs […]
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Forecast markets will run on the soon-to-launch layer-1 blockchain Autonity and newly developed Autonomous Futures Protocol (AFP).
Bitcoin's price has stabilized between $116,000 and $120,000, while options market activity remains high, with open interest nearing record levels.
Altcoin leverage has swelled to unprecedented levels, setting the stage for violent swings if momentum cracks, according to a July 23 report by Glassnode. The report highlighted that the combined futures open interest across Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE) increased from $26 billion at the start of July to $44 billion, representing […]
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Coinbase debuted its offering of perpetual futures contracts in the US on July 21, starting with the contracts “nano Bitcoin Perpetual Futures” and “nano Ether Perpetual Futures (ETH-PERP).” Coinbase Futures announced on X that the new listings will carry no monthly expirations, allow a margin of up to 10x, and charge taker fees as low […]
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The acquisition aims to expand dYdX’s product into social and user-driven trading features as it looks to scale.
Institutional investors prefer CME derivatives for regulated exposure to digital assets, avoiding direct ownership.
The initiative comes on the heels of acquiring CFTC-regulated futures trading platform NinjaTrader for $1.5 billion.
Kamino said it is now "the first major borrow/lend protocol in DeFi to onboard tokenized equities as collateral, marking a major milestone for DeFi."
Ethereum’s daily futures trading volume exceeded Bitcoin’s for the first time on July 10, a landmark development that coincided with the asset’s price testing the $3,000 level. The technical flip in the derivatives market indicates a potential shift in trader sentiment and capital allocation, lending credence to narratives of a changing market structure. Data from […]
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Opyn CEO Andrew Leone and head of research Joe Clark will join the markets team and help expand the exchange's Verified Pools feature.
Hyperliquid’s native token, HYPE, is approaching its all-time high, fueled by the decentralized derivatives exchange capturing over 80% of the on-chain perpetual futures market. The platform has seen its average daily trading volumes increase to a consistent range of $2-6 billion, a surge that coincides with a new partnership with Phantom wallet and recent network […]
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Market sentiment is bullish, with positive risk reversals indicating a preference for call options.
Ethereum (ETH) reclaimed the $2,700 threshold one day after spot exchange-traded funds (ETFs) listed in the US tracking the asset surpassed $4.5 billion in cumulative net inflows on July 8, according to Farside Investors’ data. As of press time, Ethereum is priced at $2,723.98, up by 4.1% in the past 24 hours. ETH lost the […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Phantom's launch allows users to trade perps directly within the popular web3 wallet, powered by Hyperliquid's API.
The premium has dropped to lowest since October 2023, according to 10x Research.
The latest version of the platform uses OneBalance’s chain abstraction toolkit to "eliminate the concepts of ‘chains,’ ‘bridges’ or ‘native gas fees.'"
Robinhood expanded its futures trading suite by adding micro futures contracts for XRP, Solana (SOL), and Bitcoin (BTC), according to a June 27 announcement. The zero-commission brokerage said the new products offer lower margin requirements and seamless execution via its trading ladder interface. Each micro XRP futures contract represents 2,500 XRP, roughly $5,200 at current […]
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The crypto exchange's new derivatives offering is regulated by the CFTC and will mirror the functions of the increasingly popular perpetual contracts currently not available in the U.S.
Crypto trading platforms increasingly adopt blockchain-native assets like the USDC stablecoin and tokenized treasuries such as BlackRock’s BUIDL to enhance collateral efficiency in derivatives markets. These instruments offer a blend of stability, yield, and compliance, making them attractive to institutional players seeking capital optimization. USDC and BUIDL gain momentum in crypto derivatives On June 18, […]
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Coinbase announced a Bitcoin-backed credit card and CFTC-compliant perpetual futures for US customers. The exchange made the revelation during its annual State of Crypto Summit on June 12. Perpetual futures for US traders Max Branzburg, head of consumer and business products, said Coinbase will soon list perpetual futures contracts for domestic users under the Commodity […]
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CME’s Bitcoin futures and options structure has become increasingly condensed and cautious, with the vast majority of notional exposure now expiring within the next four weeks. At the same time, the annualized basis curve has flattened to its narrowest level since April, offering minimal incentive for arbitrage-driven carry trades and limited insight into longer-term market […]
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Bitcoin’s price shook off last week’s dip and climbed sharply on Tuesday morning in Asia, topping $110,000 briefly before settling around $109,450. Traders rushed back in after the asset dipped close to $100,000, feeding a sharp rebound that leaves Bitcoin just 2.8% shy of its record high. A blend of forced liquidations, surging derivatives volume, easing US–China trade tensions and steady on-chain withdrawals is driving the move. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Heavy Liquidations Shift The Balance According to Coinglass, nearly $203 million in Bitcoin positions were wiped out over the past 24 hours. Of that, $195 million were against shorts. When so many short bets unwind at once, it forces buyers to cover positions, which can send prices spiking. Yet history shows these “short squeezes” can reverse quickly when traders take profits. Based on reports, Bitcoin’s derivatives volume more than doubled, climbing over 110% to $110 billion. Open interest then followed suit, expanding 7.3% to almost $77 billion. These kinds of inflows indicate that new money is accumulating. Both open interest and volume rising tends to indicate enthusiasm—and a willingness to carry through positions with swings. Trade Diplomacy Lifts Risk Assets Talks resumed in London on June 9 between the US and China over tariffs and export rules. Even a hint of progress tends to boost appetite for riskier assets, and Bitcoin isn’t immune. Headlines of smoother trade ties lifted equities earlier this week—and crypto traders moved in tandem. If negotiations hit a snag, though, Bitcoin could slide with global markets. On-Chain Data Shows Steady Accumulation CryptoQuant’s numbers reveal that centralized exchanges have shed 550,000 BTC since July 2024, falling from 1.55 million to about 1.01 million today. As coins leave exchanges, float tightens. At the same time, the Coinbase Premium indicator rose, with US buyers paying more than overseas investors. Santiment also reports renewed accumulation among wallets holding 10–100 BTC. This pattern hints at long-term holding rather than quick trades. Related Reading: Ignore The Trump–Musk Noise: Bitcoin’s Backbone Stays Solid Correlation And Caution Remain When you consider the rally, Bitcoin still dances on the tunes of equity price swings. Futures have mixed bets between bulls and bears, showing portrait-wise signs that certainly not everybody is convinced this run is going to hold. High volatility would tend to wash out weak hands at the slightest hint of trouble, any reversal of risk sentiment, or a sudden macro shock would cost the rally dearly. Optimism is building as analysts talk of fresh all-time highs. Some even eye $150,000 by the end of the year if US debt levels climb further. But sustaining a rally of that magnitude will require more than forced liquidations. Traders will watch derivatives flows, on-chain reserves and trade headlines for signs of real, lasting demand before pushing prices much higher. Featured image from Imagen, chart from TradingView
The vault's TVL dropped to just $163 million after a controversial trade settlement in March.
Hong Kong’s push to legalize crypto derivatives is gaining political momentum, with reports that senior officials see the next wave of virtual asset reforms unlocking Bitcoin futures and options trading for professional investors. The goal is to expand product diversity while preserving sound risk controls. Bitcoin and Ethereum ETFs “have broadened the product diversity of […]
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Crypto derivatives are a much larger market than spot trading.
The Series A was structured as equity with token warrants, Singh said, declining to disclose the post-money valuation.