u.today
Open interest (OI) for $XRP futures recently hit a new record high of more than 6,000 contracts.
More than 251,000 contracts have now been traded over the past several months with notional volume of more than $9 billion.
The size of the standard $XRP contract is 50,000 $XRP, which is worth $145,000 at current prices. There are also micro contracts with the size of 2,500 that are suitable for retail traders.
As reported by U.Today, $XRP contracts finally went live in May after the Chicago-based trading behemoth initially leaked its plans to launch the product in January.
According to data provided by CoinGlass, the overall open interest of $XRP futures currently stands at 2.59 billion tokens ($7.45 billion).
Current OI rankings
The Bitget cryptocurrency exchange has emerged as an unlikely leader in the race, with an OI of $1.72 billion.
Binance, the leading cryptocurrency comes in second place with OI of $1.17 billion.
CME, meanwhile, comes in a respectable fourth place with $930 million.
OKX, KuCoin, MEXC, and Hyperliquid are also in the top 10.