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Yahoo
31-07-2025
- Business
- Yahoo
XRP futures outperform Solana on Kraken
XRP futures outperform Solana on Kraken originally appeared on TheStreet. For the first time, XRP perpetual futures on the U.S.-based crypto exchange Kraken have surpassed trading volume for Solana's (SOL) perpetual futures—reflecting a serious spike in investor interest in the payment-focused token XRP. According to data from CoinDesk, XRP perpetuals were $3.48 billion in volume on Kraken this month compared to Solana's $3.23 billion. The volume increase came on the heels of a 40% rise in XRP's spot price to $3.66, while SOL's price increased 17% to $181. Kraken's head of derivatives, Alexia Theodorou, said that the volume increase corresponds with a renewed confidence in XRP, positivity about a more pro-crypto administration led by President Donald Trump, and the conclusion of the SEC lawsuit. The XRP token has benefited the most from the recent pro-crypto sentiment change in the U.S., said Theodorou to CoinDesk, referencing XRP's rise from $0.50 leading into the 2024 election to its most recent all-time is leading the market in volume and market cap, with XRP having a market cap of $184 billion versus Solana's $97 billion. Although XRP leads in market capitalization, SOL surpasses it in total open interest. Coinglass reports that SOL futures' total open interest is $10.69 billion, versus $8.53 billion of XRP futures open interest. Using Kraken alone for this data, SOL has $55 million of open contracts compared to XRP's $34 million. This disparity suggests that, despite more traders actively buying and holding XRP, SOL still exhibits more trading activity, which appears to be speculative. In addition, Bitcoin and Ethereum still have a far greater open interest than any generalized altcoin. With Bitcoin and Ethereum still leading in open interest globally, XRP's recent surge hints at shifting trader sentiment in the altcoin space. XRP futures outperform Solana on Kraken first appeared on TheStreet on Jul 30, 2025 This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
30-07-2025
- Business
- Yahoo
XRP Futures Volume on Kraken Eclipses Sol for 1st Time as Price Soars to Record
XRP (XRP) perpetual futures listed on the U.S.-based Kraken exchange have become more popular than their sol (SOL) counterparts for the first time. Trading volumes on Kraken-listed XRP perpetuals have topped $3.48 billion this month, outpacing the Solana token's tally of $3.23 billion, Kraken told CoinDesk. The exchange listed the XRP perpetual futures in 2022. XRP has also stolen the show in terms of price performance. The payments-focused cryptocurrency's price has surged over 40% this month, hitting a record high of $3.66. Meanwhile, programmable blockchain Solana's SOL has risen only 17% to $181, CoinDesk data show. Commenting on the volume, Alexia Theodorou, the head of derivatives at Kraken, said that it's a clear reflection of renewed optimism around XRP. "It's driven by growing market confidence following the SEC lawsuit resolution and reinforced by the election of a more crypto-friendly administration," Theodorou told CoinDesk. "XRP has been one of the biggest beneficiaries of the pro-crypto momentum shift in the U.S., with the spot price climbing from around $0.50 right before the election to a new ATH." He added that XRP has become a key focal point for traders speculating on the trajectory of the broader crypto market. Solana rules in open interest XRP has consistently been larger than SOL in terms of market capitalization. Currently, XRP boasts a market value of $184 billion, almost double SOL's $97 billion. Still, open interest in XRP futures remains smaller than SOL, suggesting a dominance of holders in the XRP market and more speculation in SOL. Open interest refers to the number of active or open contracts at a given time. As of the time of writing, cumulative open interest in Kraken-listed SOL/USDT and SOL/USD pairs was roughly $55 million versus XRP's $34 million, according to data source Coinglass. The global open interest in XRP was $8.53 billion, trailing SOL's $10.69 billion. Bitcoin and ether were market leaders, with $83 billion and $55 billion in open in to access your portfolio
Yahoo
30-07-2025
- Business
- Yahoo
XRP Futures Volume on Kraken Eclipses Sol for 1st Time as Price Soars to Record
XRP (XRP) perpetual futures listed on the U.S.-based Kraken exchange have become more popular than their sol (SOL) counterparts for the first time. Trading volumes on Kraken-listed XRP perpetuals have topped $3.48 billion this month, outpacing the Solana token's tally of $3.23 billion, Kraken told CoinDesk. The exchange listed the XRP perpetual futures in 2022. XRP has also stolen the show in terms of price performance. The payments-focused cryptocurrency's price has surged over 40% this month, hitting a record high of $3.66. Meanwhile, programmable blockchain Solana's SOL has risen only 17% to $181, CoinDesk data show. Commenting on the volume, Alexia Theodorou, the head of derivatives at Kraken, said that it's a clear reflection of renewed optimism around XRP. "It's driven by growing market confidence following the SEC lawsuit resolution and reinforced by the election of a more crypto-friendly administration," Theodorou told CoinDesk. "XRP has been one of the biggest beneficiaries of the pro-crypto momentum shift in the U.S., with the spot price climbing from around $0.50 right before the election to a new ATH." He added that XRP has become a key focal point for traders speculating on the trajectory of the broader crypto market. Solana rules in open interest XRP has consistently been larger than SOL in terms of market capitalization. Currently, XRP boasts a market value of $184 billion, almost double SOL's $97 billion. Still, open interest in XRP futures remains smaller than SOL, suggesting a dominance of holders in the XRP market and more speculation in SOL. Open interest refers to the number of active or open contracts at a given time. As of the time of writing, cumulative open interest in Kraken-listed SOL/USDT and SOL/USD pairs was roughly $55 million versus XRP's $34 million, according to data source Coinglass. The global open interest in XRP was $8.53 billion, trailing SOL's $10.69 billion. Bitcoin and ether were market leaders, with $83 billion and $55 billion in open interest.
Yahoo
11-06-2025
- Business
- Yahoo
Ether, Dogecoin Surge, Outpaces Bitcoin as DeFi Comments Spurs Bullish Mood
Bitcoin BTC stayed steady above $109,500 in Asian morning hours Wednesday, a rebound that started after last week's profit-taking. However, all eyes are on ether ETH with traders commenting on upside volatility in the weeks to come and reporting record volumes for certain ETH-based products on some exchanges. ETH zoomed 5% in the past 24 hours, leading gains among majors. 'Investors are finally recognizing the compelling investment opportunity that Ethereum presents. It's still trading well below its all-time highs, while bitcoin is already near its ATH levels,' said Jeff Mei, COO at BTSE, in a message to CoinDesk. He pointed to Ethereum's growing role in tokenizing real-world assets like stocks, money-market funds, and U.S. Treasuries, adding that it was 'very likely that Ethereum will reach and/or surpass its all-time high price by the end of the year.' Ether ETFs have attracted more than $800 million in the past two weeks alone, outpacing bitcoin's sub-$400 million, according to SoSoValue data. That's helped the spread between ether's implied volatility and bitcoin's reach its highest level since late 2022 — a sign traders expect bigger price swings ahead. Open interest in ether perpetuals on Kraken hit an all-time high of 30,000 ETH this week, said Alexia Theodorou, Head of Derivatives at Kraken, in an email to CoinDesk. 'This signals a notable uptick in speculative activity around the second-largest cryptocurrency by market cap,' she noted. However, she cautioned that the market 'has yet to form a clear directional consensus,' with the long/short ratio still well below January levels. Elsewhere in the market, Solana SOL and Cardano ADA posted gains of 4.7% and 3.3%, respectively, adding to the risk-on tone, while XRP XRP rose 2% to $2.30. Ethereum beta bet dogecoin DOGE climbed 3.7% to reverse all of last week's losses. Traders are closely watching upcoming U.S. CPI data on Wednesday, which could sway Federal Reserve rate expectations and shape risk sentiment ahead of next week's meeting.
Yahoo
18-04-2025
- Business
- Yahoo
Crypto Exchange Kraken Launches FX Perpetual Futures, Offers 24/7 Trading in Forex Majors
Crypto exchange Kraken has launched FX perpetual futures, expanding into traditional markets with round-the-clock trading for major forex pairs, the company said in a blog post Friday. The first contracts, EUR/USD and GBP/USD, are now live on Kraken Pro, with more to follow. Unlike standard forex products, FX perps have no expiry and operate 24/7, mirroring crypto futures. With FX perps, Kraken is doubling down on serving institutional and professional traders looking for deeper exposure to fiat markets through a crypto-native platform, the company said. Crypto and traditional financial markets are increasingly converging. Kraken recently launched commission-free trading for U.S.-listed stocks and exchange-traded funds (ETFs), opening access to traditional financial markets from within the same platform it uses for cryptocurrencies and positioning itself to compete more directly with trading platforms like Robinhood (HOOD). "Investors increasingly expect a unified trading experience that spans crypto, FX, and equities. With our recent U.S. equities launch and the addition of FX perpetuals, Kraken is delivering a comprehensive platform designed for today's multi-asset trader," said Alexia Theodorou, head of derivatives at Kraken, in emailed comments. Kraken clients traded $5.4B in FX spot volume year-to-date, with $3.5B of it in EUR/USD and GBP/USD. The exchange is teaming up with Mastercard to let crypto holders in the U.K. and Europe spend their digital assets at more than 150 million merchants worldwide, Mastercard said earlier this month Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
