Bakkt's recently launched cryptocurrency trading platform set a new record for trading volume for supply Bitcoin futures contracts (BTC).
“We have reached a new trade record of 212 contracts sold yesterday. After yesterday's closure, Bakkt installed a newthe daily record of $ 1.93 million, with the result that the total number of outstanding contracts as of October 9 reached 1197, which amounted to 10.2 million in dollars. ”
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
Following a modest start, Bakkt was followed by a daily increase in volume of 796%, it coincided with yesterday's jump in bitcoin prices from $ 8,205 to a maximum of $ 8,626 on Wednesday.
The Bakkt bot, which displays the volume, shows yesterday's volume at the level of 224 traded contracts.
Daily summary of Wednesday’s Bakkt Bitcoin Monthly Futures:
💸 Traded contracts: 224 (+ 796%) (New ATH 🚀)
📈 Day before: 25
🚀 New all time high: 224
Follow @BakktBot for realtime updates. pic.twitter.com/gd7nu1GndG
- Bakkt Volume Bot (@BakktBot) October 10, 2019
Fundstrat Research Director Tom Lee believes this surge is a good sign of the influx of big money and the involvement of institutional.
“Pay attention to Bakkt volumes. This is an almost pure indicator of institutional demand for bitcoin. ”
Watch @Bakkt volumes. It is nearly a pure proxy for institutional demand for #bitcoin. 1-day physical settled $ BTC https://t.co/Tl3yZpPqgB
- Thomas Lee (@fundstrat) October 10, 2019
Bakkt currently trades 80 futurescontracts for bitcoin (BTC), the price of which amounted to $ 8 537.50 or $ 529 325. For comparison, 24 futures contracts were traded 24 hours after the launch.