Bakkt futures trading volumes hit new highs amid falling bitcoin Wednesday turned out to be a good day for at least one participant in the cryptocurrency space.

Bakkt futures trading volumes hit new high amid falling bitcoin

Wednesday turned out to be a good day for at least one participant in the cryptocurrency space.

On October 23, New York Stock Exchange owner Bakkt's bitcoin futures platform updated its own maximum in terms of trading volume with a value of 640 contracts. Compared to the previous day, growth was 653%. This is evidenced by data from the unofficial Twitter account Bakkt Volume Bot.

In the case of Bakkt deliverable futures, one contract corresponds to one bitcoin in the trading volume. Thus, the turnover in futures calculated in November amounted to $ 4.8 million. Previously, the maximum volume for this type of contracts was $ 1.9 million or 224 BTC. Bakkt Cumulative Trading Volume Reaches $ 20 Million Since Launch September 23rd.



Events unfold amid a sharp decline in the price of bitcoin. On Wednesday, the price of the leading cryptocurrency plummeted by $ 400 within a few minutes and dropped to a five-month low below $ 7,500, where it remains at the time of publication.

At the same time, the volume of trading in bitcoin futures of the Chicago Mercantile Exchange (CME) on October 23 amounted to 8,187 contracts, which is equivalent to 40,935 BTC or $ 307 million.

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