Commercial volume of Bitcoin futures in Bakkt record historical numbers

Commercial volume of Bitcoin futures in Bakkt record historical numbers

Commercial volume of Bitcoin futures in Bakkt record historical numbers

Bakkt recently incorporated the trading option for Bitcoin futures and on this occasion, the platform has registered a significant increase in the number of negotiated contracts.

According to information published by Bakkt, the platform recorded an estimated volume of about 224 BTC, representing an increase of almost 800% compared to the amount of bitcoins traded in recent days.

The news is encouraging for analysts and members of the Bitcoin ecosystem since Bakkt had a very rough start of operations in contrast to the expectations of the community, since in its second week the platform did not exceed volumes around 50 BTC daily, what which questioned whether there were really institutional investors interested in this new mode of operations.

Bitcoin price increase

The interesting thing in this case is that the increase in the volume of operations of Bakkt coincides with the increase seen today in the price of the digital currency, which is quoted today above USD $ 8,400 in the main market platforms .

Some analysts suggest that there may be a mutually positive relationship between these two indicators, since the increase in the volume of operations of the platform could have a beneficial effect on the price of the digital currency, and the increase in the value of BTC generates greater Expectations among investors who aspire to record short or medium term earnings under this type of operations.

This is very positive for Bakkt, since yesterday the platform registered one of the lowest volumes seen to date. Only about 25 BTC were traded through futures contracts.

Investors are afraid

But as there are many expectations of winning in the midst of this ecosystem, analysts suggest looking cautiously as the prices of the main digital currency evolve.

In the worst case, analysts say that an eventual fall in the value of Bitcoin could generate detrimental effects for Bakkt, whose operations are just beginning and possibly handle a significant number of customers who would not be fully familiar with the volatility seen in the prices of the digital currency throughout its history.

While Bakkt currently does not seem to generate much of a stir within the investor community, since managers announced the intention of launching this modality in business in 2018 there were high expectations among members of the digital currency ecosystem. For now, we just have to wait and see how operations evolve through the platform, and if this has an important effect on the price of Bitcoin.

What's your reaction?
Happy0
Lol0
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment