Open interest in XRP futures has hit a new all-time high of | AuthSANKchain on Binance Square

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Open interest in XRP futures has hit a new all-time high of $3.99bn.

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The top-performing crypto narratives in 2024 showcased remarkable diversity in returns. The AI narrative emerged as the leader with an astounding 2,939.8% YTD return, driven by the year-end surge in popularity of AI-focused projects like Virtuals Protocol (VIRTUAL). Initially lagging behind memecoins, AI overtook them in December. Most Profitable Crypto Narratives (2024): ⚫AI: +2,939.8% ⚫Memecoins: +2,185.1% ⚫RWA: +819.5% ⚫Layer 1: +142.5% ⚫DePIN: +135.4% ⚫DeFi: +101.4% ⚫Gaming: +14.7% ⚫Layer 2: -20.7%

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According to the data, the volume of Ripple’s RLUSD transactions continues to grow and is likely to accelerate further. This is attributed to RLUSD's compliance with MiCA regulations, giving it a competitive advantage in the market.

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Ripple CEO Brad Garlinghouse said the company's previous $11bn valuation is "very outdated," revealing the total value of their XRP holdings exceeds $100bn. XRP recently became the world's 3rd largest crypto, surpassing USDT in market value amidst progress in the SEC lawsuit, despite the agency appealing the penalty, following the judgement that XRP was not a security.

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In December 2024, spot Bitcoin ETFs accumulated 51,500 BTC—nearly three times the 13,850 BTC produced by crypto miners. This highlights that institutional purchases are significantly outpacing Bitcoin production. Analysts warn of an impending “supply shock,” where scarcity drives higher prices, as BTC exchange balances hit record lows, with demand rising as Bitcoin reclaimed its $100k position.

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The China Finance 40 Research Institute acknowledged the evolution of crypto, citing how it spawned three categories: store of value, utility tokens, and stablecoins. As of December 28, 2024, crypto had a market value of around $3.43tr, equivalent to 5% of the U.S. and 35% of the Chinese stock markets. China's strict anti-crypto stance was solidified in April 2017, amid the ICO bubble, when it ordered all types of token issuances to be halted.

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