Photo: Illustration of XRP Crypto. (Pexels)
Always DYOR beforehand; buying and selling crypto carries significant risks. This article does not contain any elements of solicitation to buy or sell crypto.
The crypto market weakened this morning (January 23, 2025). However, Solana stood out by showing an upward trend despite the ongoing market decline.
According to CoinMarketCap on Thursday (January 23, 2025) at 06:18 AM WIB, the crypto market experienced a downturn. Bitcoin fell 1.7% to $104,033, although it remained in a positive weekly zone with a gain of 4.29%.
Ethereum depreciated by 2.58% in the last 24 hours and dropped 5.37% over the past week.
XRP slipped 0.13% on a daily basis, while over the past week, it recorded a 0.52% increase.
Similarly, Dogecoin plunged 3.18% in the last 24 hours and weakened by 5.61% over the past seven days.
The CoinDesk Market Index (CMI), which measures the market capitalization-weighted performance of the digital asset market, declined 1.73% to 3,866.11. Open interest depreciated by 1.29% to $146.1 billion.
Meanwhile, the fear & greed index from coinmarketcap.com showed a reading of 66, indicating that the market is in a greed phase given the current economic and crypto industry conditions.
According to cointelegraph.com, the Chicago Mercantile Exchange (CME) briefly displayed a page for a new derivative product related to cryptocurrency. Further details are expected to become available following the removal of the page.
The CME website hinted at the launch of futures contracts for SOL ($256.42) and XRP ($3.17), which are likely to commence on February 10, pending regulatory approval.
According to the now-deleted webpage, contracts for both assets will be available in standard and micro sizes. The standard SOL contract will have a lot size of 500 SOL, while the micro contract will cover 25 SOL.
The standard XRP futures contract will have a lot size of 50,000 XRP, while the micro contract will cover 2,500 XRP. All XRP and SOL contracts will be settled in US dollars.
Sources of reference: https://www.cnbcindonesia.com/market/20250123064940-17-605307/pasar-kripto-kompak-turun-tapi-tidak-dengan-koin-ini-ada-apa
