Bakkt’s Bitcoin Futures Trading Volume Soars 796% in One Day: Report
According to the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with Dutch journalist and cryptocurrency author Gert-Jan Lasterie — the 224 contracts represent an apparent all-time-high for the platform.
A turnaround after tepid launch?
The bot’s data indicates that daily traded volumes of Bakkt’s Bitcoin Monthly Futures contracts soared from just 25 on Oct. 8 to 224 on Oct. 9.
The first physically settled BTC futures
In early October, Binance Research, the exchange’s analytics arm, went so far as to identify the sluggish volumes in Bakkt’s early days as a contributing factor to BTC/USD subsequent plummeting from near $10,000 to under $8,000.