XRP Leads Open-Interest Declines as Five Crypto Futures Markets Shrink

XRP open interest fell 11.72% in a Nov. 9 snapshot, the steepest drop among five major crypto perpetual-futures markets, while Bitcoin remained largest by outstanding contract value. At 6:01 a.m. ET, open interest was lower across all five assets over 24 hours. Bitcoin's decline was the smallest, at 1.33%. Open interest measures the value of outstanding derivatives contracts. Funding rates are periodic payments between traders holding opposing positions; a positive rate means traders with long positions pay those with short positions. Bitcoin (BTC) had $7.19 billion in open interest. Its mark price was $74,088, and its funding rate was 0.0087% per eight hours, or 9.5% annualized. Long accounts represented 74.6%, compared with 25.4% short. Ether (ETH) had $4.77 billion in open interest, down 10.11%.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.