[Futures top trader picks] XRP coin-margined longs drop 14 ppts as ETH collateral expands

Major tokens long-position share

As of 9:15 a.m. on Oct. 12, CoinGlass data showed the sharpest moves in coin-margined positions. XRP fell 14 percentage points from the previous day to 64.28%, while Solana dropped 6.26 percentage points to 85.49%. Ethereum, by contrast, rose 6.17 percentage points to 70.50%.

USDT-margined positions showed more limited changes. Solana rose 1.43 percentage points to 66.88%, and XRP gained 1.42 percentage points to 65.72%. Bitcoin edged up 0.08 percentage point to 60.73%, while Ethereum fell 0.92 percentage point to 60.59% and Dogecoin declined 0.76 percentage point to 76.15%.

Long-position account share

By account share, USDT-margined data mostly stayed within a narrow range. Ethereum fell 1.25 percentage points to 66.85%, and Bitcoin declined 0.84 percentage point to 59.79%. XRP was little changed, rising 0.01 percentage point to 73.74%.

Coin-margined account data also showed limited movement. XRP fell 1.34 percentage points to 83.69%, and Bitcoin declined 1.06 percentage points to 80.02%. Ethereum rose 1.25 percentage points to 77.20%, while Dogecoin gained 1.01 percentage points to 84.72%.

Strongest long-position assets

In USDT-margined positions, the highest long shares were EPIC at 89.89%, OG at 89.29% and HUMA at 88.50%. In coin-margined positions, BCH led at 97.08%, followed by AAVE at 88.14% and DOGE at 86.81%.

By account share, the strongest USDT-margined readings were GUA at 88.17%, ESPORTS at 87.66% and TURTLE at 87.04%. In coin-margined accounts, XLM stood at 89.14%, TRX at 88.29% and AVAX at 88.15%.

Editor’s note: Trading patterns among top cryptocurrency futures traders are often used as indicators for gauging potential market direction. Because this group tends to have high trading expertise and sensitivity to market shifts, tracking where long positions are concentrated can help assess broader sentiment. Some traders may also use futures contracts to hedge spot positions, so the data requires additional interpretation. CoinGlass defines top traders as investors in the top 20% by margin balance.

Dollar-margined markets, or U markets, are often preferred by institutional investors seeking more stable returns and are used for short-term trading and hedging. Coin-margined markets, or C markets, are more commonly used by crypto bulls or long-term holders seeking to increase asset exposure through leverage. In bull markets, higher open interest in C markets can signal optimism, while in bear markets, increased U-market volume can point to institutional inflows.