The ICE-backed Bitcoin futures exchange platform, Bakkt, is slowly making its place in the market as the trade witnesses a steady gain in the charts. Recently, Bakkt traded 224 BTC, which valued at around $1.9 million according to current prices in a day.
Contracts traded so far today: 224 BTC
Last traded price: $8,582.50
— Bakkt Volume Bot (@BakktBot) October 10, 2019
There is a massive difference in Chicago-based CME Group’s trade record and Bakkt’s trade volumes, but they have been steadily increasing. This indicates that the demand for the product is gradually increasing.
Bakkt’s launch was so hyped all over the internet, but people were highly disappointed when it was launched and recorded underwhelming trading numbers. This flop launch made people call out the launch and project failure in the early stages. The BTC price suffered a considerable loss when the product was launched.
For 9th October, Bakkt traded the last Bitcoin futures at $8,582, as the price of Bitcoin noticed an upward movement with the price at $8,596.