BTC - Bakkt sees highest volume to date as Bitcoin soars!
(Source: https://twitter.com/sunnydecree/status/1187796640763133953)
This is far and away the highest volume day for the Bakkt contracts, ever.
The previous highest volume day was seen on Oct. 23rd, when bitcoin was in free-fall and 452 contracts were traded.
Today we are likely going to do at least 3x the previous all time high and it's not surprised it's happening on day when bitcoin is up some $1,200 on the day.
Slow and steady often wins the race
Bakkt still isn't doing anywhere close to the volumes being seen at the CME and their bitcoin futures products, but the volumes are headed in the right direction.
As of right now, the Bakkt options are still under $9 million in total dollar volume traded, which is a drop in the bucket compared to the CME daily average of around $70 million per day for the year.
However, things seem to be at least headed in the right direction for Bakkt.
They said that they expected the volumes to be light at first and then to slowly climb as they add more clients, which seems to be what is happening.
Bakkt also announced a Bitcoin Options Contract is on the way
Bakkt announced that they would have bitcoin options contracts released before the end of they year.
With an anticipated launch date of Dec. 9th.
Some of the key features expected of the options include:
• Capital efficiency
• Cash or physical settlement
• European style option
• Attractive fees
• Broad distribution and liquidity
• Instant Messaging
• Block trades
• Options analytics
More about those can be seen here:
Lot of things going on with the financialization of bitcoin!
Plus it's always nice to see bitcoin up over a $1k in a single day.
Stay informed my friends.
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