The physically-settled monthly bitcoin futures of crypto derivative platform Bakkt yesterday hit an all-time high.
Yesterday's trading volume hit $4.81M, a figure higher than the total volume of the previous 9 days together, probably as a result of bitcoin's volatility, which also registered a sharp increase yesterday.
The total trading volume of the physically-settled monthly bitcoin futures of the cryptocurrency derivative platform, which were launched on September 23, amounts to $20.22M. Therefore, the platform has recorded a daily volume of $0.88M over the past 23 days.
This significant increase in trading volume coincides with the collapse of the cryptocurrency, which has lost $500 in just 1 hour and is currently trading at around $7,500.
Earlier this month iHodl reported that Bakkt plans to release options tied to BTC before CME.
Bakkts' bitcoin futures with physical settlement were launched last month. However, their release was not as successful as market participants expected, since their on bitcoin price was almost unnoticeable.
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