It appears that Bakkt’s bitcoin futures have been woken up, with more than $10 million in futures volume on the exchange during a massive 42% drop last week, an all-time high for the fledgling platform.

first level title

Bitcoin futures market inflates again

According to a report from BakktVolume Bot, a Twitter bot dedicated to tracking trends in the bitcoin market of its namesake, the past week has certainly been strong for Bakkt. Likewise, since last Friday's massive jump from $7,300, volume has been consistently trading contracts worth millions of dollars per day, rather than contracts worth less than $1 million.

Of course, an average daily volume of $7 million in the past week is not great, especially when you see this market is trading hundreds of millions of dollars per day, but it is just the beginning and shows that it is moving in the right direction.

first level title

ICE CEO is optimistic about Bakkt

Bakkt's strong week comes amid upbeat comments from the CEO of Intercontinental Exchange (ICE), the company behind the New York Stock Exchange and most of the operations of the crypto upstart.

According to peer publication The Block, during the financial institution's latest earnings call, Jeffrey Sprecher, in response to a question about Bakkt, noted that institutional demand for bitcoin derivatives was high because it was a way to gain access to bitcoin in some way. risk approach, which complies with the requirements of US regulators.

The original text comes from newsbtc, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.

The original text comes from newsbtc, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.