Bakkt, a regulated cryptocurrency storage and trading platform owned by the Intercontinental Exchange, reported daily trading volumes for bitcoin futures (BTC) that are actually stable.

On September 16, Bakkt announced that they had sold over $ 200 million in BTC contracts during the day, beating the previous record by 36%.

According to cryptocurrency market data aggregator Skew, the index is twice the average daily volume published during September.

Baked: Distorted Bitcoin Futures Daily Volume
While invoicing is a potential catalyst for a corporate-led beef market, Bakk’s Bitcoin derivatives have not had the expected effect, after experiencing longer periods of complete hibernation throughout January this year. However, the recent steady increase in platform size indicates that organizations are now moving towards it.

One difference from Bakkt contracts is that they must be “physically settled” in bitcoin, not cash. However, analysts emphasized that most of the deals traded on Bakkt are renewable, with only a few traders choosing to receive bitcoins after their contracts expire.

Despite all-time highs, Bakkt volumes turned pale compared to trading activity on the major cryptocurrency exchanges. Over the past 24 hours, Binance’s BTC-USDT Permanent Contract – a futures contract with no expiration or settlement date – has paid $ 2.65 billion in trading, while 74 exchange-traded futures have paid out a total of $ 5.96 trillion.

Huobi’s 103 futures savings have generated $ 5.48 billion in trading over the past 24 hours, including $ 1.28 billion in the platform’s BTC-USD standing contract. The value of OKEx’s permanent BTC-USD contracts currently amounted to $ 516 million, of which 466 exchange-traded futures for a total of $ 2.72 billion.

However, Bakkt Derebit surpassed today, with the Derebit BTC-USD contract bringing in $ 168 in 24-hour trading volume.

Source: CoinTelegraph