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Bakkt Hits New All-Time High with Over 450 BTC Futures Contracts Traded

Bitcoin (BTC) futures volumes on Bakkt, a Digital Asset Platform, have hit a new all-time high, with 452 BTC futures contracts traded at press time.

As per historical data from Intercontinental Exchange (ICE), the operator of Bakkt said:

“Today the platform has traded 441 Bitcoin futures contracts for November 2019, with the last recorded trading price settling at $7,400 per Bitcoin. 11 futures contracts for December have been sold, with the last recorded trading price at $7,407.”

Bakkt Volume Bot, the Twitter account, which carries out live tracking on the platform, indicated that the amount of BTC futures contracts is forecasted to reach 1,089 BTC by the end of the day.

∙ Today's volume so far: 370 BTC ∙ Last traded price: $7,475.00 ∙ Trading day progress: 34% ∙ Today's forecast (beta feature): 1089 BTC — Bakkt Volume Bot (@BakktBot) October 23, 2019

Mati Greenspan, the Senior Analyst of EToro, also noted that the contract volume surge earlier in the day.

However, Greenspan tweeted:

“Bakkt trading volume hits a record high. 334 BTC and counting.” Mati Greenspan

Bakkt trading volume hits a record high. 334 BTC and counting. — Mati Greenspan (@MatiGreenspan) October 23, 2019

<img src=";ssl=1" alt="" class="wp-image-3869 lazyload" width="231" height="346" />

Mati Greenspan

ICE conducts block trade of Bakkt Bitcoin futures contract

Earlier in October, ICE executed that the first block trade of Bakkt Bitcoin futures contracts. ICE also specified that the trade was executed between Galaxy Digital – a digital assets merchant bank and XBTO – a crypto investment firm, and cleared by ED&F Man, an agricultural commodities merchant.

Thus, XBTO commented on the deal:

“Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took the first physical delivery of a digital asset under existing commodity futures laws and regulations. This week, we executed the first block trade. We’re pleased to report that the launch was successful and can accommodate large trades.”

Source: |

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