Bakkt’s Bitcoin futures open interest reaches a new record high of $6.54 million
Bakkt's Bitcoin futures open interest reaches a new record high of $6.54 million
The open interest of Bitcoin futures ( BTC ) in the Bakkt digital asset platform has reached a new historical peak.
According to a publication ‘s Twitter on December 3 made by Bakkt Volume Bot, a Twitter account dedicated to reporting on trading volumes Bakkt, open interest on Monday in futures Bakkt Bitcoin reached $ a record high again 6.500.000.
In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open interest, new or additional capital flows.
Breaking records constantly
The reported open interest has an increase of 42% over the previous day, which was also a historical peak. Last Friday and Saturday it was possible to see records of open interest of USD 4.2 million and USD 4.3 million, respectively.
The trading volumes of the platform have continuously broken records since its launch in September. At the end of November, daily volumes on the platform reached a new historical peak of more than USD 42.5 million, or 4,443 BTC at that time.
Also in November, Bakkt’s chief operating officer, Adam White, announced the company’s decision to include a cash liquidated option in an apparent attempt to further increase the platform’s popularity among investors. Intercontinental Exchange, the parent company of Bakkt, then confirmed the launch of the option for December 9.
The Bakkt administration could also begin to influence US cryptocurrency regulation soon. As Cointelegraph reported on December 1, Georgia Governor Brian Kemp is expected to name Bakkt’s chief executive, Kelly Loeffler, for a position in the United States Senate.