The XRP (XRP) Perpetual Futures, listed on the US-based Kraken Exchange, has become more popular than their sun (sun) colleagues for the first time.
Commercial amounts of Kraken-Listed XRP-Vige have peaked $ 3.48 billion this month and surpassed the Solana token’s figures of $ 3.23 billion, Kraken told Coindesk. The exchange stated the XRP evil futures in 2022.
XRP has also stolen the show with regard to price performance. The payments-focused cryptocurrency’s price has risen over 40% this month and hits a record height of $ 3.66. Meanwhile, the programmable blockchain Solana’s sun has risen only 17% to $ 181, Coindesk data shows.
When commenting on the volume, Alexia Theodorou, the leader of derivatives at Kraken, said it is a clear reflection of renewed optimism around the XRP.
“It’s driven by growing marketing time after the SEC court case and strengthened by the election of a more cryptic administration,” Theodorou told Coindesk. “XRP has been one of the biggest recipients of Pro-Crypto Momentum shift in the United States, with the spot price climbing from about $ 0.50 just before the election to a new ATH.”
He added that XRP has become a central focal point for dealers who speculate on the track at the wider crypto market.
Solana rules in open interest
XRP has consistently been greater than sun in terms of market value. Currently, the XRP boasts a market value of $ 184 billion, almost double sun’s $ 97 billion.
Still open interest in XRP -Futures less than sun, suggesting a dominance of holders in the XRP market and more speculation in the sun. Open interest refers to the number of active or open contracts at a given time.
From the time of writing, cumulative was open interest in Kraken-Listed Sun/Usdt and Sol/USD pair approx. $ 55 million against XRP’s $ 34 million, according to Data Source Coinglass.
The global open interest in XRP was $ 8.53 billion and afterwards the $ 10.69 billion dollars. Bitcoin and Ether were market leaders with $ 83 billion and $ 55 billion in open interest.
Read: Ripple applies to Federal Bank Charter, XRP jumps 3%
