The volume of Bitcoin futures on CME and Bakkt has plummeted in March.
According to a research conducted by The Block, the daily trading volume of Bitcoin futures on CME plummeted by more than 50% from $493M in February to $242M in March.
This figure rose from 26.94 million in February to 16.51 million in March on Bakkt, which represents a fall of 38.7%.
However, this is not the only indicator that has dropped, as both the open interest of the platforms as well as the number of open futures contracts also fell in March.
Thus, Bakkt's open interest rose from 19 million on February 14 to 4.6 million in March, while in the case of CME this figure jumped from 338 million on February 14 to 127 million in March.
Several news related to these platforms have appeared recently. For example, last month it was known Bakkt Cash users will soon be able to use the app to pay with cryptos at Starbucks, while it was also reported CME had closed its trading room due to fears about the coronavirus.
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