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The trading volume on Bakkt showed unexpected result

Sep 30, 2019 Forex News

In the first week after the launch, the trading volume on the regulated cryptocurrency platform Bakkt amounted to $5.8 million. Many cryptanalysts considered Bakkt as the main platform for attracting institutional investors to the market, but it seems that they are not interested in supplying Bitcoin futures.

Cryptotrader and analyst Alex Krueger notes little interest in Bakkt daily futures with a volume of 5 bitcoins per week - that is, only one daily future contract was traded every day (1 contract = 1 bitcoin).

In the first week, the total trading volume of Bakkt was about $5.8 million. The platform was able to interest traders with their daily delivery futures for as many as 5 Bitcoins. It is a successful launch.

For comparison, the trading volume of CMOE in the first week after the launch amounted to $460 million.

Some analysts note that interest in Bakkt supply contracts will grow gradually, as large investors will first observe how this market works and how it is regulated.

Bakkt has become one of the most “hype” projects in the crypto community, so many attributes the drop in bitcoin prices by almost 20% to its relatively modest trading volumes on the first day after launch. After more than a year of excitement, low trading volumes could scare investors who hoped to see new money on the market from institutions.