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Bakkt's Bitcoin Futures Volume Reaches New All-Time High

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    Bakkt's Bitcoin futures have just hit their largest one-day volume of $13.4 mln

Bakkt's Bitcoin Futures Volume Reaches New All-Time High
Cover image via u.today

Cryptocurrency derivatives exchange Bakkt has just logged its highest trading daily trading volume ever of $13.4 mln worth Bitcoin futures contracts, according to data provided by the "Bakkt Volume Bot" Twitter account. The current record (1,863 BTC) is expected to be significantly extended until the end of the trading day.   

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This sharp spike in Bitcoin's trading volumes comes on the heels of Bitcoin's massive drop below the $7,000 level. Trends to be more active when BTC makes a major move in either direction. Notably, Bakkt also set an all-time high when the BTC price spiked by almost 40 percent on Oct. 25. 

As reported by U.Today, Bakkt is also expected to launch cash-settled BTC futures on Dec. 6. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital

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    Bitcoin could hit a new all-time high with network fees exceeding $100 in 2020, according to Blockchain Capital

Bitcoin Fees Could Exceed $100 in 2020: Blockchain Capital
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Contents

Blockchain Capital's Spencer Bogart has recently published a list of 2020 predictions for cryptocurrency predictions. The most remarkable one concerns Bitcoin fees that are expected to surpass $100 next year due to the growing demand for transactions.

Back in December 2017, during the heyday of crypto, the average Bitcoin transaction fee increased to $55. As of Dec. 12, 2018, it is just at $0.52, BitInfoCharts data shows.    

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Bitcoin blast past a new all-time high 

According to Blockchain Capital, Bitcoin is set to experience another price rally in 2020 that could push its price above the current all-time high of $20,000. However, it is very unlikely to touch reach $1 mln (sorry, John McAfee).  

The crypto community expects the BTC price to skyrocket because of the upcoming halvening after the enormous returns of the previous two events. This time around, the reward for each mined coins will be decreased to just 6.25 coins. 

As reported by U.Today, the famous stock-to-flow model, which measures the coin's value by determining its scarcity, would be invalidated if Bitcoin didn't surge past the $100,000 mark before December 2021. 

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Privacy coins get delisted 

In the meantime, Blockchain Capital suggests that 2020 is going to be a tough year for stablecoins. Major exchanges could be forced to delist the likes of Monero (XMR), Zcash (ZEC), and other anonymous cryptocurrencies due to growing regulatory pressure. 

The writing is already on the wall. ZEC, which recently reached a new all-time low, was delisted from Coinbase UK back in August. In October, OKEx Korea moved to delist all major privacy coins but later decided to review its decision.     

Subscribe to the official U.Today Telegram channel. Get news first!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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