Bakkt futures trading started - First purchases were made

masterofcrypto20 (42)in #steempress • 5 years ago

The expected launch of the real Bitcoin trading platform began at 22:00 EST on September 22.

At the time of writing, the amount of BTC traded on the market was approximately 20 Bitcoins. This volume was realized within the first day of launch.

Many cryptocurrencies commentators have commented on the seemingly low volume level, with one trader comparing the launch of the platform so far with the patterns typically found in older products:

“CME BTC futures traded $ 460 million in the first week. The current volume is about $ 700 million. Van Eck's bogus ETF traded $ 0 during the first week. "

Price and institutional environment

So far, the launch of this exchange has had no effect on price developments, as yesterday traded Bitcoin at almost the same price as it is today.

With regard to futures on BTC futures settled by fiat on CME, their expiration dates and foreclosure dates have historically exerted pressure on BTC markets - traders will undoubtedly be following closely the signs of the possible impact of Bakkt in the coming days.

From a broader perspective, Fundstrat analyst and well-known bitcoin bull Tom Lee tweeted on September 20 that "he is very positive towards Bakkt and his ability to improve trust in the institution in the crypto."