Right. So, someone’s been doing some numbers. Apparently, the crypto derivatives market has decided to hit a ‘milestone’. Which is fancy talk for “people are moving bits and bytes around”. CME Group, a place where serious people in serious suits presumably trade things, claims its notional open interest – a phrase that sounds suspiciously like something wizards invented – has topped $30 billion. Mostly because both the people who know what they’re doing (institutional traders) and the people who think they know what they’re doing (retail traders) are involved. It’s…a lot of money.
Read on if you’re curious who’s making bank. (Spoiler: probably not you. 😅)
XRP and SOL Futures See Record Demand
CME confirmed that SOL and XRP futures, and ETH options (because why not?), have each managed to scrape together over $1 billion in open interest. XRP, however, is the overachiever. It got there faster than you can say “decentralized finance,” clocking in at just over three months. This, we’re told, means the crypto ecosystem is ‘maturing.’ Which basically means it’s becoming more complicated and expensive. 🙄
Our Crypto futures suite just surpassed $30B in notional open interest for the first time ever.
Our SOL and XRP futures, along with ETH options, each crossed $1B in OI, with XRP being the fastest-ever contract to do so, hitting the mark in just over 3 months.
This is a…
– CME Group (@CMEGroup) August 25, 2025
A chap named Bill Morgan (a lawyer, so automatically suspect) noticed this too. He pointed out, with the air of someone discovering fire, that XRP is the quickest CME futures contract to breach the $1 billion mark. Apparently, 251,000 XRP contracts have been traded in those three months, amounting to $9.02 billion dollars (and $12 million in, er, XRP equivalent). Honestly, it’s numbers making other numbers. It’s all rather dizzying. On August 18th, open interest peaked at over 6,000 contracts. July saw a single-day record of $235 million traded. All this enthusiasm from what the insiders are calling ‘TradFi’ investors. Whatever *that* means.
Expansion of Crypto Futures
The CME Group, bless their predictable hearts, recently decided to offer SOL and XRP futures in both full-size and “micro” sizes. Because everything is better in miniature, naturally. This gives more people the opportunity to throw their money into the digital void. Bitcoin and Ethereum are still leading the pack at $16 billion and $10.5 billion in open interest, respectively. And, just for good measure, Treasury futures have hit 24 million contracts. It seems everyone is looking for somewhere to hide their money. 🤔
Gemini Introduces XRP Rewards Credit Card
In other news, Gemini, a place where crypto is traded, has unveiled an XRP rewards credit card in collaboration with Ripple. You can get up to 4% cashback in XRP on certain purchases. Four percent! It’s almost enough to buy a small corner of a digital pixel. They’re also expanding their use of Ripple USD (RLUSD) to the US. It’s like the future, only slightly more confusing.
Meet the Gemini Credit Card, XRP edition.
Designed for enthusiasts, this limited edition metal card gives up to 4% back in XRP instantly. No waiting, just stacking.
Available now
– Gemini (@Gemini) August 25, 2025
And finally, while all this is happening, XRP is currently wobbling around at $2.92, down 0.8% in the last 24 hours because… well, markets. XRP futures open interest is over $7 billion but also down 3%. It’s like watching a very complicated game of seesaw, except with significantly more potential for financial ruin. Still, don’t let that deter you. 😇
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2025-08-26 12:10