The perpetual future XRP (XRP) listed in the Kraken exchange based in the United States have become more popular than their sun’s counterparts (Sun) for the first time.
The volume trade in the perpetual XRP that quote in Kraken have exceeded $ 3.48 billion this month, exceeding the Solana Token account of $ 3.23 billion, Kraken told Coinridesk. The exchange listed the perpetual future XRP in 2022.
XRP has also stolen the show in terms of price performance. The price of the cryptocurrency centered on payments has increased more than 40% this month, reaching a maximum record of $ 3.66. Meanwhile, the programmable sun of Blockchain Solana has increased only 17% to $ 181, as shown in Coindesk data.
When commenting on the volume, Alexia Theodorou, the head of derivatives in Kraken, said it is a clear reflection of renewed optimism around XRP.
“It is driven by the growing market confidence after the resolution of the SEC demand and reinforced by the choice of a more friendly administration with cryptographic,” Theodorou told Coindesk. “XRP has been one of the biggest beneficiaries of the Pro-Crypto impulse change in the US.
He added that XRP has become a key focal point for merchants that speculate on the broader cryptographic market trajectory.
Solana rules in open interest
XRP has been constantly larger than Sol in terms of market capitalization. Currently, XRP has a market value of $ 184 billion, almost double $ 97 billion.
Even so, the open interest in future XRP remains smaller than Sun, which suggests a domain of the owners in the XRP market and more speculation in sun. Open interest refers to the number of active or open contracts at a given time.
At the time of writing this article, the cumulative open interest in Sun/Usdt and Sol/USD pairs, in the Kraken list, was approximately $ 55 million compared to the $ 34 million of XRP, according to the data source coyndic.
The Global Open Interest in XRP was $ 8.53 billion, following $ 10.69 billion. Bitcoin and Ether were market leaders, with $ 83 billion and $ 55 billion in open interest.
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