Bakkt Announces Record-Breaking Bitcoin Futures Trading Volume
Regulated cryptocurrency platform Bakkt recorded a new all-time high for volume of trades in physically delivered Bitcoin futures contracts. During the September 15 session, this figure was 15,955 BTC (more than $200 million at the time of the announcement or ~ $180 at the time of publication).
According to the company, compared with the previous record at the end of August, the increase was 36%.
Another record day in the books for our physically delivered futures:
— Bakkt (@Bakkt) September 15, 2020
15,955 Bakkt Bitcoin Futures were traded today, representing over $200M of volume and a 36% increase from our previous all-time high 📈
At the same time, trading activity on the Chicago Mercantile Exchange (CME) turned out to be minimal – only $262 million.
Unlike CME, Bakkt allows customers to receive settlement in their own contract asset, that is, in Bitcoin. Despite the new record, trading activity on Bakkt is significantly inferior to that of the largest cryptocurrency exchanges. The trading volume of perpetual futures contracts in the BTC / USDT pair on Binance was $2.65 billion, in the BTC / USD pair on Huobi – $1.28 billion, on OKEx (BTC / USD) – $516 million. The indicator turned out to be lower only on Derebit – $168 million.
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