Bakkt, the ICE-baked Bitcoin futures exchange, has traded 224 BTC ($1.9 mln at current prices) in one day. While it still can't hold a candle to Chicago-based CME Group, the exchange's volumes have been steadily increasing as of late, which might be a sign that the demand for its novel product is gradually increasing.
Contracts traded so far today: 224 BTC— Bakkt Volume Bot (@BakktBot) October 10, 2019
Last traded price: $8,582.50
There was a lot of excitement on the air on the verge of Bakkt's launch, but it quickly dissipated when the exchange started recording more than underwhelming numbers. Eventually, everyone and their uncle prematurely labeled Bakkt a flop without looking at the bigger picture. Notably, the Bitcoin price experienced a massive 20 percent drop just days Jeffrey Sprecher's new venture debuted to much fanfare.
As of Oct. 9, Bakkt's last recorded trading price was $8,582. Bitcoin, the top cryptocurrency by market capitalization, is currently trading at $8,599 after a 5.53 percent price increase over the last 24 hours, according to CoinStats data.