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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-breaks-open-interest-record" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Breaks Open Interest Record</a><br></p>
<p style="text-align: justify">Speculation surrounding Bitcoin’s potential price breakout has taken the cryptocurrency market by storm. The surge in open interest for Bitcoin has reached unprecedented levels, highlighting a significant uptick in investor activity. August will witness the unlocking of over $1.5 billion in cryptocurrencies, predominantly involving <a href="https://en.bitcoinhaber.net/google-bard-predicts-possible-price-scenarios-for-ripple-xrp-if-bitcoin-reaches-500000" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a>. Additionally, Silvergate Bank, previously under scrutiny, has successfully exited Federal Reserve oversight.</p>
<h2 id="bitcoin-open-interest-hits-new-peak">Bitcoin Open Interest Hits New Peak</h2>
<p style="text-align: justify">Open interest in Bitcoin futures has hit an all-time high, reaching $39.46 billion, surpassing the previous peak of $39.03 billion recorded in March 2024. This surge indicates a growing demand among <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>, potentially driving Bitcoin’s price towards new records. The metric, which measures total open positions, reflects increasing market liquidity and interest.</p>
<p style="text-align: justify">Data from CoinGlass confirms this record-breaking trend, suggesting that heightened investor interest could trigger Bitcoin’s ascent to a new all-time high. This development signifies a potentially vibrant period ahead for the cryptocurrency market.</p>
<h2 id="what-will-happen-with-xrp-unlocks">What Will Happen with XRP Unlocks?</h2>
<p style="text-align: justify">In August, a substantial amount of cryptocurrencies, worth $1.5 billion, will be unlocked. The most significant part of this process involves 1 billion XRP tokens, valued at $609 million. Since 2017, Ripple has been unlocking 1 billion XRP tokens at the start of each month. Historically, Ripple re-locks a large portion of these tokens, while selling a smaller amount. For instance, in June, 800 million XRP were re-locked, and 300 million XRP were sold.</p>
<p style="text-align: justify">Besides XRP, significant token unlocks are anticipated for cryptocurrencies like Sui, dYdX, ZetaChain, WLD, MAV, and ETHDYDX in August. These developments could have considerable impacts on their respective markets.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<ul>
 <li>Bitcoin’s open interest reaching an all-time high indicates strong investor confidence and market liquidity.</li>
 <li>August’s significant cryptocurrency unlocks, especially involving XRP, could influence market dynamics.</li>
 <li>Silvergate Bank’s exit from Federal Reserve oversight marks a notable development in the crypto banking sector.</li>
</ul>
<p style="text-align: justify">The completion of Silvergate’s liquidation process, following repayment to its customers and cessation of banking operations, signifies a pivotal moment for the bank once closely tied to cryptocurrency markets. This milestone removes regulatory constraints, potentially paving the way for <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future developments</a> within the sector.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-breaks-open-interest-record" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Breaks Open Interest Record</a></h5>

Bitcoin Breaks Open Interest Record

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