Bakkt BTC Futures volume reaches New All-time High of $45.56M
Bakkt Bitcoin futures record new all-time high as the Bakkt futures volume has reached $45.56 million.
Its is continuous to set new records with its Bitcoin futures and has set another all-time high by trading closer to the $50 million mark.
According to a Twitter user, Bakkt Volume Bot, the Bitcoin futures volume of the crypto exchange Bakkt has reached 6312 BTC worth of $45.56 million. The Twitter user also highlighted the last traded price and trading progress of bitcoin futures and said that the current daily volume may go as high as $50.48.
∙ Today's volume so far: 6312 BTC ($45.56 million)
∙ Last traded price: $7,218
∙ Trading day progress: 83%
∙ Current daily Bakktarget™: 6994 BTC ($50.48 million)— Bakkt Volume Bot (@BakktBot) December 19, 2019
This rise in Bakkt Bitcoin futures volume has positively affected the price value of the coin. Bitcoin’s value surged by 7% in the last 24 hours and went above the key level of $7000. And at the time of writing, the price value of the coin is trading at $7,210.78 USD with a change of 8.53% in 24 hours.
Interest in Bakkt Bitcoin Futures is increasing
After this huge spike in the volume of Bitcoin futures, it seems that the open interest in the Bakkt Bitcoin futures program is rising. Bakkt launched this product in order to make institutional interest strong in the crypto market.
At the start, it could not perform well but now it has gained momentum and the institutional interest for Bitcoin futures is increasing. Now, Bakkt Bitcoin Futures continues to set new all-time highs.
In December 2019, Bakkt also introduced options for the traders and on this occasion, COO of Bakkt Adam White stated:
At Bakkt, our mission is to bring trust and utility to digital assets. These new contracts represent an important milestone in the development of this emerging asset class and our bitcoin product complex.
Bakkt is spreading and developing its platform by offering new products. On Dec 9, along with Bitcoin options, it also launched cash-settled Bitcoin futures.
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