Bitcoin options platform Bakkt is showing almost zero interest in its product. Some of the industry players expect the project’s annihilation. At the same time, CME’s options product still enjoys high interest.
Bitcoin options are the institutional game with big people making big bets. At least this is how they present the product, but in reality, the options trading may be a risky venture with no predictable outcomes with very few users trying it out.
Do you remember all those ‘Bakkt Rekkt’ memes wandering around smart Telegram channels? When Bakkt started its first product, nobody believed that it will succeed. However, the volume soared in the next couple of months, leading to the predictions that Bakkt will facilitate a lot more contracts in a year or two.
However, the Bakkt Options data shows that its users made last deals on 17 January, with 20 lots being traded over the day. After that – complete silence. What is it? Bakkt Bitcoin contracts are no longer in the scope of the investors? But the CME Bitcoin futures product still has significant userbase. Read More...