$15 million: Bakkt Bitcoin Futures Daily Trading Volume Hits New High

  • Bakkt bitcoin futures trading volume reached a new milestone on Nov. 8.
  • The exchange recorded 1741 contracts ($15.4 million) traded, registering a new all-time high. 

Bitcoin futures trading platform Bakkt reached a new all-time high in volume on Nov. 8. 

According to the announcement made by Bakkt, which is operated by the owner of the New York Stock Exchange, the International Continental Exchange (ICE), bitcoin futures trading volume set a new record of 1,756 on Friday. 

Bakkt Volume Bot, a Twitter account dedicated to following Bakkt’s trading volume, put the number of traded contracts at 1741 for the 24-hour period, totaling more than $15.4 million. Trading volume on Friday was up from 834 contracts the day before, constituting an increase of 109 percent. 

While bitcoin’s price fell below $9,000, users were active in trading futures, pushing the exchange to its most recent milestone. 

Bakkt was previously maligned for its slow start after launching in September, with the initial week of trading producing less than $6 million worth of BTC futures traded. A report by Binance Research even attributed Bakkt’s disappointing start to the falling price of bitcoin in September. 

However, Bakkt gained traction at the end of last month as the price of BTC made a resurgence, leading to a 250% jump in volume on Oct. 25.

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