Bakkt Breaks Yet Another ATH by Smashing through 2000 BTC Volume while Bitcoin Price Crashes

Recently, Bakkt also breached $100 million mark in monthly aggregated volume

  • Bitcoin price drops to 5-month low at $6,785
  • Bakkt makes a new record of more than 2000 BTC in trading volume

It's been two months now that Bakkt has been launched. The opening month left a lot to be desired after it registered extremely low volume. On the first day of its launch, Bakkt recorded a volume of just 72 BTC. But the second month has been seeing a lot of progress, making a new record every other day.

Today, Bakkt broke another all-time high (ATH).

On Nov. 8, Bakkt physically delivered monthly bitcoin futures contracts peaked at 1756 BTC volume equivalent of $15.6 million. That day BTC price dropped from around $9,200 to $8,650 level.

Today, Bitcoin crashed to 5 month low, going as low as $6,785. This week, BTC has lost more than 21% of its value. And just like Bakkt has done on previous occasions, a decline in BTC price has led to the platform hitting a new record.

At the time of writing, 2003 BTC has changed hands, as per the ICE website. However, because of the fall in BTC price, the value in USD terms is much lower than the previous high, at just about $14 million.

On Nov 18, Bakkt also breached a $100 million mark in monthly aggregated volume for the very first time in its less than 2 month-long journey.

Bakkt recently announced the launch of cash-settled Bitcoin futures contracts on the Monetary Authority of Singapore (MAS) regulated ICE Futures Singapore platform on December 9.

Currently, Bitcoin price is trading around $7,100 while managing the daily trading volume of $847.6 million on top ten spot exchanges with real volume, as per Messari.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today