Intercontinental exchange subsidiary Bakkt reports record numbers of its monthly Bitcoin futures transactions, as BTC prices reached a new high during the year.
The institutional investment platform announced the highest number of Bitcoin monthly futures ever on July 28, concluding 11,506 contracts, 85% more than the previous record. This change has led to an increase in the price of fixed assets by 2020. The highest level – 11 400 USD.
July 29 Bakkt broke a new record with 11,706 contracts.
“Talk about impulse! We broke the record yesterday with 11,706 Bakkt Bitcoin Futures traded today – more than 125 million. USD bitcoin ”.
Bakkt’s physically settled contracts are paid out to BTC, not contracts that are settled in cash and are denominated in USD. The acceleration was driven by Bitcoin prices, which finally broke out of its two-and-a-half-month-range limited sales channel.
According to Skew analytics, Bakkt was not the only institutional exchange to hit records this week. The Chicago Board of Trade (CME), which is much larger than Bakkt, also recorded an increase in Bitcoin futures on Monday.
The daily volume exceeded $ 1.3 billion, and the open interest rate – the total number of outstanding derivative contracts outstanding so far – also rose to $ 724 million. According to CME, 25,493 futures were traded on Monday, and the preliminary figure for Tuesday was already higher than 20,900 at the time of writing.
Yesterday, the number of Bitcoin option contracts in CME, which traded more than 1,100 shares, also increased, the highest number in the last thirty days.
Exchanges between the two institutions are small compared to the volume of BTC futures on cryptocurrencies. Skew has broken down major cryptocurrency exchanges by the volume of 24-hour Bitcoin futures, and Huobi is emerging with $ 6.51 billion.
OKEx is BTC’s second most popular futures exchange, with a daily turnover of $ 5.88 billion, and Binance is close to a third at $ 5.66 billion. Skew also reports that the total open interest of all stock exchanges has also reached its highest level in the month, reaching $ 5 billion.
According to the chart, the daily volume of Bitcoin futures was the highest in a month on Monday, and Tuesday will not lag behind, as both institutional and retail interest in BTC derivatives is growing again.