Bitcoin open interest hits $28.18 billion as Ripple gets OCC green light for trust bank

On October 27, the cryptocurrency market saw a sharp increase in short positions, with total open interest in Bitcoin derivatives reaching $28.18 billion while Bitcoin’s spot price hovered near $79,756. This spike in activity coincided with a narrowing trading range and aggressive bets against the spot market. The competition for dominance in real-world asset (RWA) tokenization has intensified. Data from the RWA Foundation, citing Token Terminal, indicated that three leading blockchain ecosystems attracted $99.6 million in net stablecoin inflows over 24 hours, fueling growth for emerging tokenized platforms. Current figures show that XRP Ledger remains slightly ahead in daily stablecoin inflows at $34.4 million, with decentralized protocol Hyperliquid closing in at $34.1 million. Arc follows in third with $31.1 million, highlighting a fiercely competitive landscape.

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