Finally Bakkt Doing Better Trading Volume increase by 800%
Recently the trading volume of Bitcoin (BTC) futures on an Intercontinental Exchange Platform Bakkt soared a total of 224 contracts as on 9th of October which was reportedly 796% higher than the previous day trading.
Bakkt Whales Awake?
As per the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) which has no connection with the official account rather is connected to a Dutch journalist and a crypto author Gret-Jan Lasterie who concluded that the 224 contracts were an all time high until now.
Apparently the bot indicated the daily trade volume of the firm soaring from 25 on 8th October to 224 futures on 9th of October.
While investigating the sudden increase in the volume it came into notice that the uptick in the volume was succeeded due to a solid increase in Bitcoin’s price from about $8,200 to about $8,600 as per the data provided by Coin360 data.
Until Bakkt’s most anticipated contracts which was one of its kind to be physically settled in Bitcoin went live on 22nd of September this year.
Observing the drastic growth of the platform the overwhelming performance of the first week as immediately compared to that of BTC futures settled on CME which was launched back in December 2017.
As of now ICE’s data indicate that about 59 contracts wee traded on the day so for while the last one recorded a trade volume as high as $8,485.
