Guess what, Bakkt isn't dead after all! New highs in dollar volume!

in GEMS2 months ago

Hey, remember these guys?

They are not dead after all!

There was a ton of hoopla surrounding their launch back in the summer of 2019.

In fact it was what helped get bitcoin to $14k, actually I would argue it was pretty much the main driver of getting bitcoin up near $14k.

However, since that time the volumes have been underwhelming to say the least.

I had pretty much written them off, until today.

I just stumbled across their volume totals and they are starting to inch their way up there:

(Source: https://twitter.com/BakktBot/status/1306944836054941697/photo/1)

They did roughly $208 million in dollar volume yesterday, which was a new all time high.

That marks three days in a row of over $150 million dollar volume.

That isn't anywhere near the CME bitcoin futures dollar volume, but it starting to look like some real money is trading their products.

It was slow building at first but it looks like it isn't dead by any means!

Good news going forward!

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