February 22, 2024

Bakkt sales hit record highs

Bakkt sales hit record highs

This Wednesday, October 23, 640 bitcoin contracts were traded on the Bakkt platform.In addition, the total daily allowanceThe trading volume reached $4.8 million, up 653% fromof the cumulative trading volume of the previous nine days.

It is noteworthy that the record trading activity on the Bakkt platform coincided with the fall of the BTC price below the weekly SMA100 - to the lowest level in the last five months.

Meanwhile, trading activity on the Chicago Mercantile Exchange (CME) rose 65% to 8,187 contracts worth $ 307 million.

Bakkt started shipping Bitcoin futures in September, but trading volumes on the platform have remained low.In this regard, many analysts have begun to believe that institutional investors have lost interest in digital currencies. 

It is still unknown whether the jump to 640 contracts is a one-time event, or whether the platform is finally gaining popularity.

Based on materialswww.fxstreet.com