Crypto
CME Storms Past Binance as Largest XRP Futures Venue
CME Group has overtaken Binance to become the largest platform for XRP futures open interest, according to CoinGlass data.
The shift in market dominance comes as institutional interest in XRP continues to grow, with inflows into spot XRP ETFs remaining high.
CME's open interest started rising in mid-August and has since increased sharply, almost doubling to a 3-month high of nearly $570 million on August 28.
Binance also saw an increase in open interest during the same period, reaching a high of $598.65 million on August 24 due to XRP buy-the-dip sentiment among investors.