Kalshi Files for XRP, XLM, SOL, SHIB, HBAR, DOGE, & 6 Other Altcoins Perp Futures
Highlights
- Kalshi files with CFTC to approve XRP, XLM, SOL, SHIB, HBAR, DOGE, & 6 other altcoins perp futures.
- This comes after CFTC approved Kalshi's Bitcoin perpetual futures contract listing.
- The regulator to take case-by-case review process to approve the futures listing.
Kalshi applied for perpetual futures tied to altcoins such as Ethereum (ETH), XRP, Solana (SOL), Stellar (XLM), Dogecoin (DOGE), Shiba Inu (SHIB), and Hedera (HBAR). It follows the Commodity Futures Trading Commission’s (CFTC) approval of Bitcoin perpetual futures trading on the platform last week.
Kalshi Eyes to Launch XRP, XLM, SOL, SHIB, HBAR, DOGE, & Other Altcoins Perp Futures
Kalshi prediction market has filed with the CFTC to launch perpetual futures for 12 altcoins, according to the latest filings. These are for ETH, XRP, SOL, DOGE, XLM, Chainlink (LINK), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Shiba Inu (SHIB), Polkadot (DOT), and Hedera (HBAR).
The platform listing several contracts tied to altcoins highlights Kalshi’s deeper push into the crypto industry amid pro-crypto regulatory developments. This puts the prediction market in direct competition with Hyperliquid, Binance, and Coinbase.
As CoinGape reported earlier, the CFTC approved Kalshi’s Bitcoin futures listing. It marked the platform’s first-ever perpetual futures launch in the US. The platform also revealed that it is looking to launch crypto perpetuals on more than a dozen currencies, pending regulatory review.
In its order, the CFTC confirmed it plans to use a case-by-case review process for approving perpetual futures contracts listing beyond Bitcoin. “The policy statement makes clear that, given the unique characteristics of perpetual contracts, which tend to vary based on the underlying asset they reference,” the commission added.
Derivatives Market Signals Buying Sentiment Despite Altcoins Prices Fall
The total open interest of XRP contracts across all crypto exchanges surpassed $2.96 billion, according to Coinglass data. It has held a 4-month high level despite a crypto market crash. XRP price is trading at $1.27, down 4% over the past 24 hours, despite Kalshi’s plans to list perp futures.
ETH, SOL, SHIB, HBAR and others record buying sentiment in the derivatives market. At the time of writing, the total ETH futures open interest jumped 1.57% to $31.34 billion in the last 4 hours. As CoinGape analysis revealed, SHIB and BCH are trading at a discount.
Meanwhile, XLM, DOGE, SUI, LINK, and HBAR show a mix of buying and selling activity. XLM price is down more than 12% amid profit booking after a more than 60% rally in a week.
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