Bakkt Sets a New Record for the Number of Contracts

Bakkt Bitcoin futures trading platform set a new record. According to an announcement by Bakkt, which is owned by the New York International Continental Exchange (ICE), the volume of trading in bitcoin futures on Friday, November 8, reached an amount of 1,756 contracts.

Today we set a new daily record of 1,756 Bakkt Bitcoin Futures contracts traded

— Bakkt (@Bakkt) 8 ноября 2019 г.

Bakkt Volume Bot's Twitter account, aimed at tracking Bakkt's trading volume, estimated the number of traded contracts at 1,741 for a 24-hour period totaling more than $15.4 million. Trading volume on Friday rose from 834 contracts the day before — by 109%.

Daily summary of Friday's Bakkt Bitcoin Monthly Futures:

Traded contracts: 1741 ($15,486,195) (New ATH)
Day before: 834 (+109%)
All time high: 1741 (11/8/2019)

Follow @BakktBot for realtime updates | Tip sats https://t.co/TF6sNUwWpO pic.twitter.com/SIFl4jkN5T

— Bakkt Volume Bot (@BakktBot) 9 ноября 2019 г.

One of the reasons for the activity is the Bitcoin price decrease below $9,000. It was noted that during this period, users actively traded Bitcoin futures.

Bakkt was previously criticized for the slow development after its launch this autumn. In a Binance Research report, Bakkt's low user activity is considered one of the reasons for the fall in Bitcoin price in September. Nevertheless, the platform gained momentum at the end of last month.