Cryptocurrency
Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours
As reported by Cointelegraph, “Institutional Bitcoin (BTC) trading platform Bakkt is on course to treble its all-time high for trade volume after hitting new records last week. “According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday. “Compared to just 331 contracts ($3.1 million) […]
As reported by Cointelegraph, “Institutional Bitcoin (BTC) trading platform Bakkt is on course to treble its all-time high for trade volume after hitting new records last week.
“According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.
“Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.
“At press time Monday, daily trading amounted to 240 BTC ($2.3 million), with the majority of the trading day still to come.
“Bakkt’s performance clearly benefited from the news that China had opted to officially embrace blockchain technology. When it broke late last week, Bitcoin reacted immediately, going on to reach local highs of $10,500…”
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