Futures pro pick: XRP coin-margined longs drop 13pp as bitcoin accounts fall 5.99pp

Major tokens' long-position ratios

As of 9:15 a.m. on Oct. 10, XRP's long-position share in coin-margined futures stood at 65.97%, down 13 percentage points from the previous day. Bitcoin also fell sharply in coin-margined contracts, dropping 9.30 percentage points to 65.41%. Dogecoin declined 3.77 percentage points to 84.87%, while Ethereum rose 3.65 percentage points to 67.30%.

In USDT-margined futures, XRP showed the clearest increase, rising 2.15 percentage points to 64.17%. Solana edged up 1.26 percentage points to 65.90%, and Ethereum gained 0.83 percentage point to 63.70%, staying broadly range-bound. Bitcoin slipped 0.50 percentage point to 61.71%, while Dogecoin was unchanged at 75.89%.

Share of accounts holding long positions

By account share in USDT-margined markets, Bitcoin long accounts fell 5.99 percentage points from the previous day to 60.67%. Ethereum declined 3.38 percentage points to 68.28%, and XRP dropped 2.33 percentage points to 73.24%. Solana and Dogecoin stood at 72.16% and 75.72%, respectively, with moves of less than 1 percentage point.

In coin-margined account data, Dogecoin showed the clearest decline, falling 2.96 percentage points to 83.92%. Ethereum slipped 2.36 percentage points to 75.89%, and XRP decreased 1.24 percentage points to 83.72%. Bitcoin and Solana were little changed at 78.75% and 83.76%, respectively.

Strongest long-position tokens

Among USDT-margined positions, EPIC led with an 88.87% long-position share, followed by FORM at 88.62% and MON at 87.49%. In coin-margined positions, BCH ranked first at 98.51%, ahead of AVAX at 92.51% and DOT at 89.84%.

By account share, ESPORTS topped the USDT-margined market at 88.19%, followed by GUA at 86.95% and STAR at 86.57%. In coin-margined accounts, AVAX led at 90.99%, with XLM at 88.61% and BCH at 87.84%.

Editor’s note: The trading patterns of top cryptocurrency futures traders are often used as an indicator for gauging potential market direction. Because this group is considered highly experienced and sensitive to market shifts, the tokens where it concentrates long positions can offer clues about broader sentiment and positioning. Some futures positions may also be used to hedge spot holdings, so the data requires additional interpretation. Top traders are defined as investors in the top 20% by margin balance.

Dollar-margined markets, or USDT-margined markets, are generally favored by institutional investors seeking stable returns and are often used for short-term trading and hedging. Coin-margined markets are more commonly used by crypto bulls or long-term holders seeking to increase asset exposure through leverage. In bull markets, rising open interest in coin-margined markets can point to optimism, while in bear markets, increased volume in USDT-margined markets may suggest institutional inflows.