Altcoin News: Bakkt Fixed the Maximum Trading Volume of Bitcoin Futures in One Day

October 10, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The trading volume of the Bakkt platform supplying Bitcoin futures in one day reached a new maximum, however, it remains relatively small.

According to BakktBot’s Twitter account, transactions totaling 224 BTC or $1.93 million were made on the platform per day. The previous record was set at $1.37 million on September 27.

The third week of trading is now drawing to a close Bakkt, and so far the platform has not justified its hopes of attracting investor’s capital to the market. Some commentators, however, claim that these expectations were unrealistic, and it would take some time to build a full-fledged investor base around Bakkt.

The growth in trading volumes at Bakkt occurred simultaneously with the jump in the Bitcoin exchange rate — on Wednesday, the price of the leading cryptocurrency rose by $500 within a few hours.

In the meantime, the Chicago Mercantile Exchange Group (CME Group) expects that the upcoming options for its Bitcoin futures will be in particular demand among miners and traders in Asia. It is assumed that a new instrument will enter the market in the first quarter of 2020.

Tim McCourt, head of alternative investments, CME, in a conversation with the South China Morning Post, said that the exchange hopes to attract no less interest in its options than in Bitcoin futures launched at the end of 2017.

Author: Marko Vidrih