Levi Rietveld, a prominent crypto figure on X, recently shared a post that has taken over the cryptocurrency community. The post included an official document from Crypto.com Derivatives North America (CDNA) confirming that XRP will be listed on February 14, 2025. Rietveld emphasized the potential market impact, stating that the listing could drive billions in trading volume.
Crypto.com is the largest North American crypto exchange, and Rietveld suggested that its decision to list XRP would have a substantial effect on trading volume. His statement aligns with the growing influence of Crypto.com, which has seen a surge in market activity over recent months.
The attached image shows that CDNA has formally notified the Commodity Futures Trading Commission (CFTC) of its intention to list a new type of financial product: an event contract based on the XRP cryptocurrency.
In the letter dated February 12, 2025, CDNA submitted a product certification to the CFTC under Regulation 40.2(a) of the Commodity Exchange Act. This regulation allows exchanges to self-certify certain products for listing and trading.
The proposed “XRP Crypto Event Contract” would likely be a type of derivative that pays out based on whether a specific XRP-related event occurs. While the exact nature of these events is not yet public, they could be tied to price movements, network milestones, or similar events.
CDNA aims to list the XRP event contract for trading on or after February 14, 2025. This move signals Crypto.com’s continued expansion into the derivatives market and its commitment to offering a diverse range of cryptocurrency-based financial products.
In recent months, Crypto.com has experienced a substantial increase in trading activity. A Coindesk report from October showed that the exchange’s monthly spot trading volume escalated from $34 billion in July 2024 to $134 billion by September 2024.
The exchange captured a significant share of North America’s total crypto trading volume during that period, and this surge has positioned it ahead of competitors such as Coinbase and Kraken.
XRP’s listing on a major exchange like Crypto.com is expected to boost liquidity and increase daily trading volumes. With many bullish signals surrounding the digital asset, this listing has bolstered the positive sentiment in the market.
Historically, new exchange listings have led to heightened market activity. Bulls are flocking into the XRP market, and the digital asset could experience an exciting run in the immediate future. Rietveld’s post has drawn significant attention, and investors will be watching closely to see how XRP’s price responds after February 14.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
When momentum kicks in, Bitcoin never disappoints. Hovering around $82,600, Bitcoin has its eyes set…
In a landmark development for the cryptocurrency market, Bitnomial, a prominent digital asset derivatives exchange,…
Shiba Inu (SHIB) is currently trading at $0.00001285, reflecting a slight price movement of 0.02839%.…
The meme coin market is as unpredictable as ever, and the latest shift in sentiment…
Yoshitaka Kitao, Chairman and CEO of SBI Holdings, reaffirmed his confidence in Ripple’s future during…
XRP has experienced notable price fluctuations in recent days, drawing increased attention from traders and…
