XRP has currently risen to the third position in the top ten cryptocurrency rankings, surpassing USDT.
As XRP replaces Tether, XRP futures open interest increased by over $1 billion in the past week, rising from $2.42 billion to $3.42 billion (+41.6%).
Glassnode points out that the sharp rise in leverage coincided with the price increase from $2.14 to $2.48, indicating increased speculative activity and bullish sentiment.
According to Coinmarketcap data, XRP's market cap is $151.2 billion, while Tether's market cap is $150.3 billion.
Tether ranks fourth with a market cap of $150 billion, followed closely by Solana (SOL), Binance Coin (BNB), USDC, Dogecoin (DOGE), Cardano (ADA), and TRON (TRX).
