When it comes to crypto and lightning fast growth, it’s usually something that happened over the course of a few months or years. Very rarely can we see something like the reported soar of the trading volume of the bitcoin futures on the Intercontinental Exchange’s (ICE) Bakkt platform.
Daily summary of Wednesday’s Bakkt Bitcoin Monthly Futures:
Traded contracts: 224 (+796%) (New ATH )
Day before: 25
New all time high: 224
— Bakkt Volume Bot (@BakktBot) October 10, 2019
The 8th of October showed surprisingly low results. However, the next day, according to the tracking data by the Twitter account Bakkt Volume Bot (@BakktBot), there were 224 contracts, which is 796% more than the previous day.
This is not a case of company boasting or fake statistics, since the BakktBot is not affiliated with Bakkt. The recorded 224 contracts are also an all-time high for the platform itself.
The bitcoin futures contracts had an incredible day
According to additional data from the bot, the daily traded volumes of Bakkt’s bitcoin monthly futures contracts soared from 25 to 224 in 24 hours.
This was of course noticed by many investors and had a very positive effect on bitcoin’s price. The price rapidly jumped from $8.2K to nearly $8.6K in a matter of hours.
Earlier this year, the testing of Bakkt’s bitcoin futures platform caught a huge amount of investor interest. A few months ago, the earliest tests had participants from many countries worldwide test the platform to its limits.
The BTC futures trading became available on September 22 and has since then received a growing amount of interest both from crypto and fiat investors alike.
After the incredible soar however, things have quickly normalized and according to the official ICE data, interest is still growing.
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