Based on the most recent Intercontinental Exchange (ICE) statistics, Bitcoin (BTC) Futures daily transactions on Bakkt, the digital asset marketplace, have reached a record volume. On November 22, 2019, 2728 Future Contracts ($20.3 million) were traded in Bitcoin. Bakkt BTC Futures Trade over $20 Million in a day!!

30% higher than the previous daily volume record

The latest peak level was 66% greater than the previous day’s, and approximately 30% more than the last peak it achieved on November 8.

Bakkt daily volume & open interest chart

Bakkt daily volume & open interest chart | Source: BakktVolumeBot

Major price moves coincide with big volume

In comparison, the implied volatility rate for yesterday was $1.75 million, an improvement of 29% relative to the trading day before. Following its sluggish beginning in September, there has slowly been a rise in the volumes of Bakkt’s functionally well-established BTC futures.

The latest record output also corresponds with a substantial fall in the value of bitcoin on Friday, down to $7,000. Earlier volume increases were consistent with the massive BTC price shifts, as was seen between October 25 and November 8.

The last value recorded for Bakkt’s contract on Friday was $7,240, based on the most recent ICE, which operates around 23 leading global exchanges, including the NYSE.

As published in media reports, with corporate demand that seemingly increasing, Bakkt is growing its Bitcoin product portfolio.

The virtual currency marketplace admitted earlier in the week that ICE Futures Singapore will be providing cash-settled Bitcoin futures contracts on December 9. On that same day, the first small alternatives to Bitcoin will also be released.

 

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