Bakkt experts said that against the backdrop of falling Bitcoin, traders can activate by updating the maximum volume of daily operations with the main coin. On October 23, delivery futures worth 1139 BTC were sold to platforms. Trading volume on Bitcoin futures exchange Bakkt has jumped suddenly, as the crypto market takes a nosedive.
“Last week, we bought the first Bakkt Bitcoin Daily Futures contract and took the first physical delivery of a digital asset under existing commodity futures laws and regulations. This week, we executed the first block trade. We’re pleased to report that the launch was successful and can accommodate large trades.” - said the representatives of Bakkt.
Bakkt launched last month, after a year of delays and was expecting to bring a lot of institutional money into the Bitcoin market. How the ICE subsidiary has displayed a rather inconsistent performance since Day One. However, it’s by far the most impressive performance the platform has registered since launch. The previous high was 224 BTC futures contracts on Sep 9.
The price of Bitcoin fell $500 in five minutes today. It dropped first on bitcoin futures exchange BitMEX before the rest of the exchanges followed suit. As a result, every cryptocurrency in the top 100 by market cap (bar Basic Attention Token, which is up 9%) is deep in the red. Bitcoin SV has been hit particularly hard, and is down 12% to $95.