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Payments-Focused Cryptocurrency XRP and Solana’s Price Spikes After Report of CME Futures Contracts

Payments-focused cryptocurrency XRP and the world’s most-used blockchain Solana’s prices surged on Wednesday afternoon after a report emerged that the Chicago Mercantile Exchange (CME) is adding futures contracts of both.

According to a post on X, CME has posted the futures page for XRP and SOL in their “staging subdomain.”

A screenshot of the website shows that the regulated futures could start trading on February 10, pending regulatory approval. The website was not accessible at the time of publication.

CoinDesk reached out to CME for comments.

XRP and SOL Jump in Price

XRP and SOL jumped as much as 3% in the minutes after the post started circulating on social media, TradingView data showed.

Conclusion

The news of CME adding futures contracts of XRP and SOL has sent shockwaves through the cryptocurrency market, with the prices of both cryptocurrencies surging significantly. This development could be a significant step forward for the adoption of these cryptocurrencies and the growth of the blockchain industry as a whole.

FAQs

Q: What is the Chicago Mercantile Exchange (CME)?

A: The CME is a leading global derivatives marketplace, providing clearing and settlement services to its customers.

Q: What is the difference between XRP and SOL?

A: XRP is a payments-focused cryptocurrency, while SOL is a smart contract platform.

Q: What is the significance of CME adding futures contracts of XRP and SOL?

A: The addition of futures contracts of XRP and SOL by CME is a significant step forward for the adoption of these cryptocurrencies and the growth of the blockchain industry as a whole.