Bakkt Bitcoin futures contracts volume surge incredibly

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 9^th.”

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).”