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BTC · 3d

Bakkt Hits a Volume Record, 200 Million Dollars in One Day

Strong momentum – Financial institution Bakkt has recently gained traction in the bitcoin futures market. Bakkt presents itself as a new kind of exchange platform, with the motto: “Consolidate, convert and pay with your digital assets”. Regulated by the NYSE, the company holds more than 1.2 billion assets, broken down into cryptocurrency, but also via several digital titles: rewards, loyalty points, etc.

The objective is to create a bridge between these virtual assets, and the real economy. A business model that works, as the recent performances of the platform demonstrate. Its president, Adam White, is also cited as one of the most influential figures in the market, by Fortune Magazine.

Another record day in the books for our physically delivered futures: 15,955 Bakkt Bitcoin Futures were traded today, representing over $200M of volume and a 36% increase from our previous all-time high 📈 — Bakkt (@Bakkt) September 15, 2020

Most of the exchanges on Bakkt are carried out in cryptocurrency, through various tools offered by the website. Among these are:

Options contracts: classic option contracts between a buyer and a seller, on the cryptocurrency market. Bitcoin futures: futures contracts – buying or selling a quantity of bitcoins, in the future, and at a fixed price.

It is precisely on this second category of contract that the company has just achieved its daily record . On the day of September 15, 15,955 BTC were traded, or roughly $ 200 million. This event takes the place of the previous record, located at 11,700 BTC traded in 24 hours, and constitutes an increase of 36% between these two peaks.

This growth is also part of a much more global trend. Indeed, according to Skew (crypto data analysis platform), this figure of 15,955 BTC represents double the average daily volumes, posted for the month of September.

A historic volume therefore, but which does not exceed its main competitor, the CME . The lat...

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