- The Bakkt Volume Bot have released their week’s summary of the Monthly Bitcoin Futures of Bakkt.
- Bakkt’s total trading volume reached almost $80 million up by 17% since the last week.
- The maximum open interest stands at $9.3 million, which is up by almost 18% since the last week.
Recently, the Bakkt Volume Bot have released their week’s summary of the Monthly Bitcoin Futures of Bakkt. As per the tweet, Bakkt’s total trading volume reached almost $80 million, up by 17% since the last week. The maximum open interest stands at $9.3 million, which is up by nearly 18% since the previous week.
ICYMI: this week's summary of Bakkt Bitcoin Monthly Futures:
? Total volume: $80 million (+17%)
? Max open interest: $9.3 million (+18%)
— Bakkt Volume Bot (@BakktBot) July 5, 2020
Bakkt Volume Bot mainly tweets about the volume and the open interest Bakkt™ Bitcoin Monthly Futures. It tweets once every four hours.
Increase Of $1.4 Million On Open Interests
Last week, the total volume went up by 31% to a total of $69 million, and the maximum open interest was down by almost a large 36% and stood at a total of $7.9 million. Over a week, $1.4 million gained on the high open interest.
Maximum open interest means that there many derivative contracts that are still open, and the investor is keeping a close watch over it. Increasing the open market during the current week simply implies that the interest of the investors is rising while the major drop in the previous week means that investor interest has dropped.
In The Fourth Week Of January, Not Even A Single Bitcoin Contract Traded
However, Bakkt’s Bitcoin options have come a long way from the start of the year. Constant surges of its trade volumes and maximum open interest is a very good indication. However, The trading volumes of Bitcoin options listed in the Intercontinental Exchange’s Bakkt platform were completely in a clueless situation.
During the last week of January, not even one bitcoin option contract was sold, with the last contract that was traded on January 17. However, this wasn’t expected because simultaneously CME’s bitcoin option was seeing strong open interest. Bitcoin’s volatility due to consecutive three-month spikes.
The Bakkt services launched in the market on 24th September 2019 and initially, it had received pretty well appreciation. The Bakkt Volume Bot had reported that its trading volume had become almost four times amounting up to $4.8 million in only one month. The surge motivated the firm to launch the Bitcoin contract options.
As of 2019, Bakkt was successful in trading over a million US dollars worth Bitcoin contracts since it was launched on December 9, 2019. In the second week of December, it had traded its highest contract worth $1 million worth of Bitcoin options. Then it wasn’t preferred over the CME’s bitcoin options. However, the recent increase in trading volumes and maximum open interest may just help Bakkt turning tables in the crypto industry.