Satoshi Nakamoto Blog
Image default
Bakkt Bitcoin Bitcoin Cash 101 Bitcoin Futures

Bakkt Bitcoin Futures Trading Volume Just Hit Another All-Time High

Bitcoin (BTC) futures daily volumes on digital asset platform Bakkt have hit a new all-time high, with 1,741 futures traded on Nov. 9.

Bakkt announced the new record, stating: 

“Today we set a new daily record of 1,756 Bakkt Bitcoin Futures contracts traded.”

Volume spike coincides with Bitcoin price dip

Twitter account dedicated to Bakkt futures trading volume data, Bakkt Volume Bot, also pointed out the development on Nov. 8. 

Additionally, the daily volume of 1,741 (about $15.5 million) represents a 109% increase over the 834 contracts traded the day before with each contract being equivalent to one Bitcoin.

Bakkt daily volume graph. Source: Bakkt Volume Bot

The new record volume coincides with a sharp Bitcoin price decrease, falling under $9,000. The last reported Bakkt contract trading price as of press time is $8,895.

Bakkt’s volume rising month over month

Bakkt physically settled monthly Bitcoin trading volumes have been steadily rising since its launch. In October, its volumes have hit a new all-time high with 452 contracts traded. 

Notably, on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts after registering a staggering 257% volume increase in 24 hours. This also coincided with a major price move that sent BTC over $10,000.

As Cointelegraph reported earlier this week, Bakkt is also on its way to set a new monthly trading volume record. The company is also expected to launch the first regulated Bitcoin options contract on Dec. 9.

Source link

Related posts

BlackBerry Introduces Blockchain-Backed Platform Focused on Healthcare Services


The Tiniest Fraction of a Bitcoin is Now Worth More Than 3 Fiat Currencies


Bitcoin Continues to Correct as Crypto Markets Bleed Billions


Here’s What Shark Tank’s Kevin O’Leary Gets Wrong About Bitcoin


Sharing miner exhaust heat with a neighbor to lower their electric bill in the winter. : Bitcoin


Researcher Breaks Grin’s ‘Privacy’ Spending Just $60 Per Week