Bakkt’s Cash Settled Bitcoin Futures on 7 Day Volume Pump

Bakkt’s Cash Settled Bitcoin Futures on 7 Day Volume Pump
фото показано с : beincrypto.com

2019-12-19 21:20

\n

Bakkt’s official Twitter account noted that the recently introduced cash settled Bitcoin futures market has been trading at a volume of over 1,000 lots consistently for 7 days now. Some in the cryptocurrency space still debate how positive this really is for Bitcoin.

The announcement came just minutes ago from Bakkt (@Bakkt) itself:

Today marks the 7th consecutive day that the Bakkt Bitcoin (USD) Cash Settled Futures have reached trade volumes of over 1,000 lots at ICE Futures Singapore

— Bakkt (@Bakkt) December 19, 2019

Bakkt’s Latest Products Are Doing Quite Well

The cash settled futures contracts are available on ICE Futures Singapore and are one of two new products recently released by the company. Almost immediately after these contracts were released, the group announced that the new product was performing well right out of the gate.

Over 1,000 Bakkt Bitcoin (USD) Cash Settled Futures contracts have been traded at ICE Futures Singapore since launching earlier today

— Bakkt (@Bakkt) December 9, 2019

Furthermore, since the introduction, these contracts have repeatedly been setting new record highs for volume, with the most recent record being set just yesterday.

Yesterday we set a new volume record:

6,226 physically delivered Bakkt Bitcoin Futures contracts traded at ICE Futures U.S.

— Bakkt (@Bakkt) December 19, 2019

Is This Really Good for Bitcoin?

Of course, not everyone is happy about this news. Since its inception, some have attacked Bakkt as being an attempt for Wall Street to effectively take over the cryptocurrency market. BeInCrypto has even recently reported on a YouTuber who makes a case for exactly that.

One of the largest arguments flung at the company recently pertains to the fact that it has come to light that, despite their original claims, Bakkts futures contracts are only 63% backed by Bitcoin. This hasn’t sat well with much of the community, and when these cash settled Bitcoin contracts (as opposed to physically settled Bitcoin) were announced, it only further angered detractors.

Ahhh… that's not gonna help in price discovery..

— MMD (@btcvision2024) December 19, 2019

While there may be some valid truth to the idea that institutional money is needed to bring cryptocurrency to the masses, it isn’t clear yet that these futures contracts are the way. Increasing volume on Bakkt certainly hasn’t translated to higher Bitcoin prices, at least so far. Time will have to ultimately tell whether these new products are a boon for digital assets, or simply for the legacy financial system.

The post Bakkt’s Cash Settled Bitcoin Futures on 7 Day Volume Pump appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 65127.43 (-1.05%)
Объем 24H $35.845b
Изменеия 24h: 0.49 %, 7d: 5.39 %
Cегодня L: $65108.75 - H: $66525.69
Капитализация $1282.954b Rank 1
Цена в час новости $ 7147.76 (811.16%)

bitcoin volume futures cash settled bakkt consistently

Источник: beincrypto.com

bitcoin volume → Результатов: 126


Surging Demand For Bitcoin Ordinals Propels Q2 Trading Volume To $210M

Bitcoin Ordinals’ unique non-fungible token (NFT) inscriptions on the Bitcoin blockchain have recently registered over $210 million in trading volume in the first half of 2023 alone. This new wave of innovation, coupled with the volume recorded so far, demonstrates the potential that lies within the intersection of blockchain technology and digital artistry.

2023-7-7 19:30


Capital Flowing Is Into Small-Caps and DeFi Space as Bitcoin Consolidates

The price of bitcoin consolidated in a narrow range last week but without any catalyst. Today, the leading cryptocurrency is recording some gains of 1.20% while trading above $9,450. Volume is also extremely low across the board, while bitcoin futures having its slowest session since January, ‘real’ spot volume also dropped below $1 billion. Very […]

2020-6-22 18:23


Bitcoin fails to recover as weekly volume on BitMEX drops 72% in 3 months, traders bearish

The Bitcoin price has failed to push above a relatively low resistance level at $8,374, making a bigger pullback into the mid-$7,000 region more likely. According to Arca’s chief investment officer Jeff Dorman, the current state of the cryptocurrency market, given the low volume of bitcoin, incentivizes traders to short bitcoin until bottom levels are […] The post Bitcoin fails to recover as weekly volume on BitMEX drops 72% in 3 months, traders bearish appeared first on CryptoSlate.

2019-10-18 07:06


Bitcoin fork technical analysis: Bitcoin Cash, Bitcoin SV, and Bitcoin Gold

Over the last week, Bitcoin’s trading volume has been fading away. On July 15, it surpassed $25 billion, but over the past few weeks, it dropped to around $14 billion today. As BTC’s volume continues declining, its price seems to have gotten stuck in a $600 trading range between $9,900 and $9,300 without any clear signs […] The post Bitcoin fork technical analysis: Bitcoin Cash, Bitcoin SV, and Bitcoin Gold appeared first on CryptoSlate.

2019-7-31 00:59


‘Insane’ Bitcoin Momentum Goes Overdrive as ‘Real Volume’ Hits $1.5 Billion

By CCN Markets: Bitcoin price has increased by 16 percent in the past week against the U. S. dollar following its initial breakout of the $10,000 mark on June 21. Luke Martin, a crypto trader, has said that the momentum of the dominant crypto asset is “insane,” indicating that minor corrections are being absorbed by the market at a fast pace and that the short term trend of the asset remains strong.

2019-6-24 09:40


Here’s Why Colombia Is The Latest South American Country To Hit The Peak In Bitcoin Volume

Here’s Why Colombia Is The Latest South American Country To Hit The Peak In Bitcoin Volume Recently, we reported that after Venezuela, the trading volume in Indonesia has reached an all-time high (ATH) on the peer-to-peer platform, LocalBitcoins in response to the legal recognition of Bitcoin and digital assets as commodities. Bitcoin trading volume in […]

2019-2-20 19:52


Фото:

Bitcoin Price Touches $4K On Biggest Daily Volume Since May

The Bitcoin price succeeded in holding above $3900 February 20 after a sudden bull run brought the largest trading volumes since May 2018. Bitcoin Volume Sets 9-Month Record Data from Coinmarketcap confirmed the return to form for both price and volume over the past 72 hours, Bitcoin rising around 10 percent February 18 and touching the $4000 mark on Bitstamp yesterday.

2019-2-20 18:00


Фото:

Venezuela Imposes Capital Controls on Bitcoin Remittance Amid Record Volume

Venezuela continues to reach new heights in terms of weekly Bitcoin trading volume. Meanwhile, the country’s government has issued new regulations that impose fees on Bitcoin remittance. 2,545 BTC: New Weekly Bitcoin Trading Record According to data from Coin Dance, Venezuelans traded 2,454 BTC via Localbitcoins (the P2P trading platform) for the week ending February 9, 2018.

2019-2-12 08:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Futures Exchange Bakkt Ramps Up Crypto Custody Insurance Coverage

Bakkt — the Intercontinental Exchange (ICE)-owned Bitcoin futures platform — has inked a partnership deal with Marsh to provide $500 million in crypto custody insurance coverage. Writing in the company’s blog on Monday, Bakkt President Adam White announced the collaboration with insurance broker Marsh to provide $500 million in coverage to crypto custody clients.

Bakkt Launches Two New Financial Products

Bakkt has just released two new financial products: Bitcoin monthly options and Bitcoin cash-settled futures. Bakkt is expanding its Bitcoin product ecosystem with two new financial products. Starting with Bitcoin-backed monthly futures, the exchange is now expanding.

Bakkt Sets New All-Time High With $42.5 M in Bitcoin Futures

After a mediocre start, interest in the Bakkt Bitcoin futures platform is starting to look more respectable. Trade volume at the Intercontinental Exchange-owned venture yesterday topped $42. 5 million — a new all-time high by a considerable margin.