Perp DEX Liquidity Test: Can On-Chain Traders Compete With Regulated Venues?
DeFiLlama data shows $582B 30‑day on‑chain perp volume as Hyperliquid draws scrutiny and ETF inflows. We test whether DEX liquidity can match regulated venues.
Crypto Daily·

CFTC Order 9240-26 and CME’s 24/7 XRP futures signal a structural shift for large-cap altcoins, as regulated perps reshape liquidity, spreads, and risk.
Read full articleDeFiLlama data shows $582B 30‑day on‑chain perp volume as Hyperliquid draws scrutiny and ETF inflows. We test whether DEX liquidity can match regulated venues.
XRP is sending out an interesting on-chain signal at a time when its price is still struggling to build a convincing recovery above $1.3. A closely monitored on-chain metric tracking the behavioral gap between XRP’s largest holders and its retail base has collapsed to its lowest reading in more than two years. The data, sourced from blockchain analytics platform CryptoQuant, points to a structural shift in how XRP is flowing out of Binance, with the Binance Whale vs. Retail Spread for XRP falling to 88.3%, its lowest level in more than two years. XRP Whale Vs. Retail Spread Hits A 2-Year Low The spread between whale and retail outflows on Binance has dropped to 88.3%, its lowest point since May 2024, and notably, it is the second time this level has been tested within the same month. Related Reading: Pundit Says The Clock Is Ticking For XRP, Here’s What To Know The Binance Whale vs. Retail Spread tracks the gap between large XRP outflows and smaller retail-sized outflows on Binance.
Tom, the founder of OpenFind, has drawn attention to a research paper co-authored by the Fed Chair Kevin Warsh, in which they highlighted XRP. Specifically, the paper discussed cross-border payments and how crypto assets such as XRP could serve as a bridge currency. Fed Chairman’s Research Paper Highlights XRP’s Utility In an X post, Tom […]
XRP ETF inflows paint a positive picture, but will it be enough to reverse course for its price?
The post CME Launches Nearly 24/7 Trading for XRP Futures and Options Starting May 29 appeared on BitcoinEthereumNews.com. CME will start near 24/7 crypto derivatives trading, including XRP contracts, on May 29. XRP futures have reached $62.87B in notional volume since CME launched them in May 2025. Analysts say XRP futures activity is rising as ETF holdings and XRPL adoption expands. CME Group will begin nearly round-the-clock trading for its regulated crypto futures and options from May 29. The expanded schedule includes XRP futures, options on XRP futures, and Micro XRP contracts. The change moves CME’s crypto derivatives market closer to the always-open structure of digital asset spot markets. Trading will continue through weekends, except for a two-hour weekly maintenance window. CME Extends XRP Derivatives Trading Hours The exchange said weekend trades will carry the following business day’s trade date. That detail applies to clearing, reporting, and related operational processes
CFTC bitcoin-perp approval and staff relief on stablecoin margin mark a shift for U.S. derivatives, yet crypto dollars still define trading risk.
Telegram’s MTONGA cuts TON fees 6× and concentrates validation while TVL hovers near $70M and DEX volume around $4.5M. Can distribution endure thin liquidity?
Traders watching Stellar’s 40% weekly surge are now turning their attention to XRP, asking whether the older and larger token could be next. The two assets share a long history of moving in tandem, and some analysts say the setup is starting to look familiar. Related Reading: Unknown Wallet Destroys $8.5 Million In Bitcoin In Shocking Burn XRP And XLM: A Recurring Pattern Analyst Kevin Cage pointed out that while XLM broke out after months of sideways trading, XRP has remained range-bound. Reports indicate that if momentum picks up, some traders are projecting a move toward the $1.76 to $2 range for XRP sometime in June. XRP itself posted a 2.50% gain in the past 24 hours, though it remains down 2.50% over the last seven days and about 5% over the past month. The price was last seen hovering near the $1.23 to $1.30 liquidity zone on Coinbase‘s spot market. $XRP orderbook on Coinbase is still heavily skewed towards bids (nearly 7x on the large bands) Now this doesn’t automatically mean