Bakkt Bitcoin futures contracts volume surge incredibly


  • Bitcoin price stalls short of $7,700 amid increasing interest in Bakkt bitcoin futures.
  • Bakkt volume spikes above 4,973 worth $37.67 million.

Bitcoin price dived to the lowest levels in seven months. Recovery from the support marginally above $6,500 has been drab. However, a breakout above $7,000 saw interest increase which pushed Bitcoin above $7,600.

Meanwhile, Bakkt the first-ever platform to offer cash-settled Bitcoin futures contract is relentlessly breaking barriers. Although the contract saw a lethargic start following the launch in September, the volume has been growing steadily. A new record high was recorded on Thursday as the contract hit 4,443 as per the company’s communication.

“Two months after their debut, Bakkt Bitcoin Futures reached a record high of 4,443 contracts traded today – up over 60% from our last record-setting day.

“We look forward to building on this momentum as we approach the launch of the Bakkt Bitcoin Options contracts on Dec 9th.”

According to the Bakkt Volume Bot:

“Today's volume so far: 4973 BTC ($37.67 million)

∙ Last traded price: $7,575

∙ Trading day progress: 67%

∙ Current daily Bakktarget™: 5467 BTC ($41.41 million).”

 

 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD will not hit $8,000 unless it falls to $5,000 first

Bitcoin price attempt to climb the ladder above $7,000 was met by increased selling activities in the zone between $6,800 - $6,900. This left the psychological zone at $7,000 untested, however, the area remains critical to Bitcoin price near term trend.

More Bitcoin News

NEO/USD struggles to settle above $7.00 as the upside momentum fades away

NEO, now the 2nd largest digital asset with the current market value of $492 million, is hovering around psychological $7.00. The coin has gained over 2% on a day-to-day basis, however, the upside momentum has faded away during early Asian hours.

More Ripple News

Ethereum Price Analysis: ETH/USD has to decide where from here

Ethereum, the second-largest digital asset with the current market value of $15 billion, the tested area above $142.00 before retreating to the current levels.

More Ethereum News

XRP/USD vulnerable to downside correction

Ripple (XRP) has been the best-performing altcoin out of top-20 in recent 24 hours, The coin tested $0.1800 during late Thursday hours and managed to settle above $0.1700 on Friday. Ripple's total market capitalization is registered at $7.5 billion.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Coronavirus will either kill Bitcoin or make it stronger

Bitcoin is about to finish the second positive week in a row. The first digital coin has recovered from $5,680 and came close to psychological $7,000 during the week.

Read the weekly forecast

BTC

ETH

XRP