Shiba Inu and XRP Rank Among Top Traded Futures on Bitrue Exchange

Shiba Inu and XRP rank among the top traded futures on Bitrue amid increasing interest in both cryptocurrencies.

Shiba Inu (SHIB) and XRP have surged into the top 10 most traded assets on the Singapore-based Bitrue exchange this week. These assets have joined the ranks of other highly traded cryptocurrencies, such as Bitcoin, Solana, and Ethereum, reflecting significant market activity and interest.

📢 Here’s a quick recap of #Bitrue Futures Top 10 traded assets this week

👉 $BTC
👉 $ETH
👉 $XRP
👉 $SOL
👉 $GALA

..and many more!

Check out our futures liquidation insurance event 👉 https://t.co/Ace7yoiaqb pic.twitter.com/oCskCcljKs

— Bitrue (@BitrueOfficial) May 25, 2024

XRP Trading Metrics

According to Coinglass data, XRP exhibited a notable surge in futures volume this week, increasing by 9.54% to hit $595.22 million across all exchanges. Additionally, its open interest experienced a slight uptick of 0.20%, reaching a total of $622.97 million. 

The long/short ratio over the past 24 hours was recorded at 0.9482, revealing a higher prevalence of short positions compared to long ones. This dominance of short positions is further supported by XRP’s negative funding rate of 0.0157%.

Examining XRP’s liquidations as of press time, the total liquidation value stands at $204.33K. This comprises $29.48K in short liquidations and $174.85K in long liquidations. 

The data highlights the significant liquidation activity on exchanges, with Bybit experiencing the highest long liquidations at $90.16K, followed by Binance with $49.16K in long liquidations. As of this publication, XRP is trading at $0.5295, reflecting a slight decrease of 1.32% in the last 24 hours.

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Shiba Inu Market Performance

Shiba Inu also displayed notable trading metrics. According to Coinglass data, SHIB’s trading volume increased by 17.81%, reaching $120.50 million. Additionally, open interest surged by 10.95%, reaching $92.12 million. The long/short ratio over the past 24 hours was 0.8067, suggesting a stronger presence of short positions.

The total liquidations for SHIB amounted to $139.58K, comprising $111.21K in short liquidations and $28.37K in long liquidations. Notably, CoinEx recorded the highest short liquidations at $44.85K and the lowest long liquidations at $978. As of press time, the price on SHIB is exchanging hands at  $0.000025405.