Ether Open Interest Falls 7.80% as XRP Funding Reaches 10.9%

At 6:01 p.m. ET Sunday, Nov. 8, Ether (ETH) open interest fell 7.80% over 24 hours, the largest decline among five tracked assets, while XRP's funding rate led the group at 10.9% annualized.

Open interest is the value of derivatives contracts that remain open. It fell for Bitcoin, Ether, Solana, XRP and Dogecoin in the snapshot. Long accounts outnumbered short accounts in all five markets.

Ether's decline exceeded the 3.62% drop in Solana open interest in an earlier five-asset snapshot, which also showed XRP leading funding at 10.9% annualized.

Bitcoin (BTC) had a mark price of $74,710 and a funding rate of 0.0036% every eight hours, or 3.9% annualized. Its open interest was $7.05 billion, down 3.13%. Long accounts made up 74.0% of the market, while short accounts accounted for 26.0%.

Ether's mark price was $2,133, and its funding rate was -0.0079% every eight hours, or -8.7% annualized. Open interest stood at $4.85 billion, with 78.2% of accounts long and 21.8% short.

Solana (SOL) had a mark price of $86.65 and funding of -0.0033% every eight hours, or -3.6% annualized. Its open interest was $790.0 million, down 5.23%. Long accounts represented 77.6%, compared with 22.4% short.

XRP's mark price was $1.11, and open interest was $358.5 million, down 7.41%. Long accounts made up 73.5%, while short accounts were 26.5%. Positive funding means traders holding long positions pay traders holding short positions.

Dogecoin (DOGE) had a mark price of $0.0693 and funding of 0.0056% every eight hours, or 6.1% annualized. Open interest was $166.4 million, down 6.14%; 72.7% of accounts were long and 27.3% were short.