- The Trading Volume of Bakkt Futures Trading Spikes by 800 Percent
- Bakkt Volumes Should Be Observed for Being Pure Proxies – Tom Lee
Bitcoin News Today – A recent report just revealed that the trading volume of Bakkt Bitcoin Futures just spiked enormously. The trading volume of the futures surged by about 800 percent.
A major event that anticipated events to take place on the digital currency calendar this year was Bitcoin (BTC) futures. Bitcoin futures is a rather disreputable variant of the digital currency arriving on the Bakkt platform. Bakkt is a digital holding and a BTC futures trading platform founded by ICE (International Exchange).
Bitcoin (BTC) Price Today – BTC / USD
The firm was proud to announce its collaboration with an American multinational technology company – Microsoft – and American coffee company – Starbucks. It vowed to unveil Bitcoin (BTC) to potential trading investors and lead the expansion of digital currency to higher streets.
The Trading Volume of Bakkt Futures Trading Spikes by 800 Percent
The prices sunk after a report by the firm over a mediocre initial performance. Nevertheless, after starting gradually, the ICE digital currency seems to be growing at an enormous pace, with a daily increase of about 800 percent. The firm announced that it reached an exchange record of 212 contracts via a tweet on Oct. 10.
The platform set records of $1.93 million, bringing the total contracts to a little over $10.2 million. The tweet of the firm reads:
“As we continue to build the Bakkt Bitcoin Futures contract, we reached a new trading record of 212 contracts traded yesterday.”
As we continue to build the Bakkt Bitcoin Futures contract, we reached a new trading record of 212 contracts traded yesterday
— Bakkt (@Bakkt) October 10, 2019
The massive increase of about 800 percent came after the bouncing of the cost following a significant sell-off last month. On October 10, the Bitcoin (BTC) futures exchanges fell back to 109 BTC exchanged. Investors were fast to take hold of the addition in Bakkt bulk, indicating signs of impending institutional investments.
Bakkt Volumes Should Be Observed for Being Pure Proxies – Tom Lee
After the massive increase in trading volume came to light, Tom Lee stated that Bakkt volumes should be observed for being pure proxies. Tom Lee is in charge of research at Fundstrat – a firm that deals with crypto data.
Investors are no longer able to exchange more Bitcoin than they currently have, due to the infamous physical Bitcoin futures of Bakkt. They have not been successful in starting any notable change, even after anticipating to be the bearer of tidings, the evolution of Bitcoin (BTC) markets.