Bakkt ‘Insiders’ Get Email Revealing Bitcoin Consumer App Could Be In Final Stages Of Testing
Bakkt has announced that the testing for its consumer app is in final stages. Retail investors will be able to use the solution provided by Bakkt for institutional investors, in a company’s attempt to expand its services.
Bakkt testing consumer app in preparation for imminent lauch for retail traders! pic.twitter.com/7y4S1vZGS0
— Cryptopolis (@cryptopolis_x) November 14, 2019
Starting off this year without an impressive trading volume, Bakkt has managed to make a great comeback in November. It’s planning to bring people a consumer app that will most likely be made in partnership with Starbucks and other major retailers. While the project was circulating around for quite some time, it has only been recently confirmed by an email Bakkt sends to its subscribers periodically.
A Note About the Plan Has Been Sent in October
On October 28, the Bitcoin futures exchange revealed some of its plans of a consumer app in a Medium post. The email sent to its subscribers appears as a confirmation that the app is being tested at the moment. The release will most likely happen during tests of crypto payments with Starbucks, in the first two quarters of 2020. While a lot can be speculated on the subject, the app will surely support purchases and trading of goods by using cryptocurrencies.
Bakkt’s Trading Volume Has Exploded Lately
Shocking everyone in the crypto space, Bakkt’s trading volume has been very high lately. BeInCrypto reported that the exchange experienced a boom in the number of contracts being traded last week, on November 8th. Back then, Bakkt reported a daily volume of about $15.6 million. While the volume started things very slowly in October, it exploded in November. Things remain to be seen if it will do the same in December, but it’s expected to rise even more considering a retail investor app is going to be released.
Daily summary of Thursday's Bakkt Bitcoin Monthly Futures:
📉 Traded contracts: 577 ($4,970,855)
📅 Day before: 601 (-4%)
🚀 All time high: 1756 (11/8/2019)
— Bakkt Volume Bot (@BakktBot) November 15, 2019