According to data provided by analytics firm CoinGlass, Chicago-based trading giant CME Group has climbed to the second spot by open interest (OI), leaving behind exchange giant Binance. They are currently at $1.27 billion and $1.22 billion
The Bitget cryptocurrency exchange, so far, remains in first place with $1.6 billion.
It is worth noting that the term “open interest” refers to the total number of outstanding futures and options contracts.
Some of the other trading platforms in the top 5 include Gate, OKX, MEXC, KuCoin, and upstart Hyperliquid.
$18 billion
Recent data shared by CME Group shows that XRP futures have already logged $18.3 billion in notional volume.
As reported by U.Today, the Chicago-based trading behemoth previously announced that XRP managed to break the record for the fastest contract to reach $1 billion in open interest. Some analysts believe that this could be a positive signal of strong future demand for XRP ETFs.