Bakkt's Bitcoin futures volume hits $4.8 million in one day

Trading volume on Bitcoin futures exchange Bakkt hit a record high yesterday as the crypto market went south. Users took full advantage of this increased volatility and traded 640 bitcoins, worth $4.8 million, on the exchange.

The ramp-up started as the price of Bitcoin fell $500 in five minutes yesterday—dropping to a low of $7,300, during Mark Zuckerberg's Senate testimony. Following the sudden plunge, 296 bitcoins, worth $2.2 million, were traded within a few hours, as Decrypt reported. But over the course of the day, trading rose even further, breaking the previous all-time high of 224 bitcoins ($1.9 million) on October 9. In fact, yesterday's volume was six times greater than the previous day.

So far today, there has been strong volume on the exchange with 92 bitcoins ($770,000) being traded in the first hour. A Twitter bot providing regular updates on Bakkt's trading volume estimates that if this were to continue, it would reach 3067 bitcoins ($22.7 million) by the end of the day—although this is pure extrapolation. Read More...

Bakkt's Bitcoin futures volume hits $4.8 million in one day
A slow start for Bakkt, but things are picking up

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