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.
BREAK: Bakkt volume at new all time high ?— Bakkt Volume Bot (@BakktBot) November 22, 2019
Today's volume so far: 1863 BTC ($13.40)
Follow @BakktBot for realtime updates | Tip sats https://t.co/TF6sNUwWpO
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.