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Shiba Inu and $XRP rank among the top traded futures on Bitrue amid increasing interest in both cryptocurrencies.
Shiba Inu ($SHIB) and $XRP have surged into the top 10 most traded assets on the Singapore-based Bitrue exchange this week. These assets have joined the ranks of other highly traded cryptocurrencies, such as Bitcoin, Solana, and Ethereum, reflecting significant market activity and interest.
📢 Here’s a quick recap of #Bitrue Futures Top 10 traded assets this week
👉 $BTC
👉 $ETH
👉 $XRP
👉 $SOL
👉 $GALA..and many more!
Check out our futures liquidation insurance event 👉 https://t.co/Ace7yoiaqb pic.twitter.com/oCskCcljKs
— Bitrue (@BitrueOfficial) May 25, 2024
$XRP Trading Metrics
According to Coinglass data, $XRP exhibited a notable surge in futures volume this week, increasing by 9.54% to hit $595.22 million across all exchanges. Additionally, its open interest experienced a slight uptick of 0.20%, reaching a total of $622.97 million.
The long/short ratio over the past 24 hours was recorded at 0.9482, revealing a higher prevalence of short positions compared to long ones. This dominance of short positions is further supported by $XRP’s negative funding rate of 0.0157%.
Examining $XRP’s liquidations as of press time, the total liquidation value stands at $204.33K. This comprises $29.48K in short liquidations and $174.85K in long liquidations.
The data highlights the significant liquidation activity on exchanges, with Bybit experiencing the highest long liquidations at $90.16K, followed by Binance with $49.16K in long liquidations. As of this publication, $XRP is trading at $0.5295, reflecting a slight decrease of 1.32% in the last 24 hours.
Shiba Inu Market Performance
Shiba Inu also displayed notable trading metrics. According to Coinglass data, $SHIB’s trading volume increased by 17.81%, reaching $120.50 million. Additionally, open interest surged by 10.95%, reaching $92.12 million. The long/short ratio over the past 24 hours was 0.8067, suggesting a stronger presence of short positions.
The total liquidations for $SHIB amounted to $139.58K, comprising $111.21K in short liquidations and $28.37K in long liquidations. Notably, CoinEx recorded the highest short liquidations at $44.85K and the lowest long liquidations at $978. As of press time, the price on $SHIB is exchanging hands at $0.000025405.