Bakkt sees highest volumes to date as Bitcoin prices soar
The volume on the Bakkt bitcoin monthly futures contracts broke 1,000 for the first time ever today, and the market still has a few hours until the close.
Check it out:
(Source: ~~~ embed:1187796640763133953) twitter metadata:c3VubnlkZWNyZWV8fGh0dHBzOi8vdHdpdHRlci5jb20vc3VubnlkZWNyZWUvc3RhdHVzLzExODc3OTY2NDA3NjMxMzM5NTMpfA== ~~~
This is far and away the highest volume day for the Bakkt contracts, ever.
The previous highest volume day was seen on Oct. 23rd, when bitcoin was in free-fall and 452 contracts were traded.
Today we are likely going to do at least 3x the previous all time high and it's not surprised it's happening on day when bitcoin is up some $1,200 on the day.
Slow and steady often wins the race
Bakkt still isn't doing anywhere close to the volumes being seen at the CME and their bitcoin futures products, but the volumes are headed in the right direction.
As of right now, the Bakkt options are still under $9 million in total dollar volume traded, which is a drop in the bucket compared to the CME daily average of around $70 million per day for the year.
However, things seem to be at least headed in the right direction for Bakkt.
They said that they expected the volumes to be light at first and then to slowly climb as they add more clients, which seems to be what is happening.
Bakkt also announced a Bitcoin Options Contract is on the way
Bakkt announced that they would have bitcoin options contracts released before the end of they year.
With an anticipated launch date of Dec. 9th.
Some of the key features expected of the options include:
• Capital efficiency
• Cash or physical settlement
• European style option
• Attractive fees
• Broad distribution and liquidity
• Instant Messaging
• Block trades
• Options analytics
More about those can be seen here:
Lot of things going on with the financialization of bitcoin!
Plus it's always nice to see bitcoin up over a $1k in a single day.
Stay informed my friends.
-Doc
I got totally fed up of crypto and so sold everything and bought steem and put it here in my wallet; took me 2 years to save it up, but I'm glad it's here and I'm not looking at the exchange every day to see if it's gone down anymore...
Well hopefully the coming SMTs, communities, and a couple other developments can help get things turned back in the right direction.
It is almost December and on more month to wait before the launch. I can't wait to join the Bitcoin community and explore the full feature offered with this innovative technology on blockchain.
Peace
Posted using Partiko Android
Yes, the Options launch is only about a month and a half away at this point. With the halving right around the corner as well, we should be in for a good next several months.
The rise was crazy today, I couldn't believe how fast the green went up!
Yep seems everything is up 10-15% except steem 😂
Posted using Partiko Android
Thanks for this post.
Congratulations @jrcornel!
Your post was mentioned in the Steem Hit Parade in the following category:
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
9.99 USD has been spent to promote this content using Steemium .
Learn more here!
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
Nice to hear, thanks!
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
This post has been promoted with @minnowbooster as a gift send by @steemium.
5% of the purchase will be burned and 5% sent to the @steem.dao fund as part of our ethical promotion initiative.
For further information please check this post.
9.99 USD has been spent to promote this content using Steemium .
Learn more here!
Cool, thanks!
Congratulations @jrcornel! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard: