This is the new historical maximum that the exchange has presented.
These figures together, with the rebound in the price of Bitcoin cheer cryptocurrency enthusiasts.
Through its official Twitter account, the Bakkt exchange announced that on October 25 it sold 1,179 units of physically settled Bitcoin futures contracts. The next day, through the Bakkt Volume Bot account, it was announced that the day closed with 1,183 units sold marking a new historical high.
Today we set a new daily record of 1,179 Bakkt Bitcoin Futures contracts traded
- Bakkt (@Bakkt) October 25, 2019
Through its Twitter account, the consortium also showed that the daily link exceeded the previous record of 640 units sold.
Daily summary of Friday's Bakkt Bitcoin Monthly Futures:
💸 Traded contracts: 1183 - New ATH 🚀
📈 Day before: 331
📈 Previous all time high: 640
Follow @BakktBot for realtime updates & tip sats @ https://t.co/TF6sNUwWpO 🤖 pic.twitter.com/lRZKn82LJu
- Bakkt Volume Bot (@BakktBot) October 26, 2019
New goals for Bakkt?
If the company's Bitcoin futures are considered to have performed poorly the previous weeks, their steady growth is excellent news for Bitcoin enthusiasts. However, to fall again, it would not be unexpected, since the firm has had some inconsistencies in the past.
Only two weeks ago, the account reported that Bakkt had managed to sell 224 contracts on the day, that is, 796 percent more than the 25 contracts of the previous day. However, later came the fall in trading volumes.
This fact suggests for some people that the new daily volumes could mark the beginning of a new stage for Bakkt. For its part, the company even estimates that up to 3,067 Bitcoins could be sold per day. While it is still far from the current level of 92 Bitcoins, it seems that Bakkt has woken up from his sleep.
Companies begin to secure the market
It is peculiarly striking that the increase in the volumes of the Bakkt firm coincides with a new report that indicates that the institutional interest in Bakkt's futures products is high.
As the specialized portal BeInCrypto reported, institutional investors had made extensions to Bitcoin futures, worth more than one thousand BTC, only so far this month, worth approximately 8.2 million dollars at that time, a statistics that rose less than 500 Bitcoins, compared to the previous month.
If the data presented by the company are considered, it is worth noting that futures have begun to increase due to the renewed activity in the space fed by these institutions. However, it is important to note that this increase is different from the one reported last week based on its correlation with the price of Bitcoin.
According to the specialized portal Cointelegraph, Bakkt managed to negotiate 441 Bitcoin futures contracts for November 2019, with the last trading price recorded at 7,342,500 for Bitcoin. Similarly, 11 futures contracts were sold for December, with the last recorded trading price of 7 thousand 487,500 Bitcoins.
From the Twitter account, Bakkt Volume Bot, which carries out a live monitoring of the platform, the company indicated that the amount of Bitcoins futures contracts is expected to reach 1,989 Bitcoins.
Meanwhile, Mati Greenspan, senior analyst at eToro, also noted the increase in the volume of contracts. “Bakkt's trading volume reaches a record. 334 BTC and counting, ”he posted on his personal Twitter account Greenspan.