The trading volume on Bakkt grow, but it does not mean anything

Marketplace Bakkt was launched almost two months ago, so now we can draw some conclusions of its work during this period. Start trading on the Bakkt was not as big as everyone expected. A large part of the October daily trading volume of the platform is not raised above a couple of million dollars and only two weeks ago this figure rose to 15.5 million dollars. The growth is noticeable, but celebrating success Bakkt still very far away.

Statistics of trading Bitcoin futures

Technical Director of the exchange Interdax Charles Phan noted that while “early to open the champagne.”

Growing liquidity Bakkt is a positive sign. However, we are still very far from the moment when the Playground will have a serious impact on the industry and dictate pricing of Bitcoin.

Indeed, daily trading volumes on the Bakkt do not go to any comparison with the volumes in traditional cryptocurrency exchanges.

In particular compare the figure of 15.5 million dollars at least ten times smaller than the trade volumes in a relatively large crypto currency exchange.

The expert expects that in the future the volume of transactions in Bakkt will only increase. This will also contribute to large investors, who are increasingly using the Bakkt to open orders on Bitcoin futures with physical delivery.

Here the trading volume Bakkt for Tuesday 19 November. Platform 1135 has signed contracts worth $ 9.27 million dollars. The record was set on Friday 8 November 1756 contracts.

Trading volumes on Bakkt. Source: Bakkt Volume Bot

Meanwhile, the trading volume of Bitcoin futures from CME Group are gradually declining. The Chicago stock exchange reported record activity of traders in July this year and in response to the growing demand increased the limit for positions of their clients. However, since the liquidity of the CME falls only.

On Friday, the daily amount of transactions on the CME reached 5824 contracts, while at the end of October, the volume was almost two times higher. Fan noted that Bakkt supposedly better suited for market makerswho are engaged in arbitrage transactions in several markets.

All new programs Bakkt aimed at improving liquidity. While there are no details about it, but the Fan States that it can be designed to reduce commissions on transactions. If so, Bakkt will soon become even more popular platform among large investors.

The role Bakkt in the niche cryptocurrency is really important. The platform is designed for institutional traders, i.e., major holders of money. It is their lack of attention alienates industry of coins from new records. In addition to slow adoption among institutional investors set new records Bitcoin also does not give the lack of new technologies and General attitudes to cryptocurrencies. We examined these factors in a separate article, we recommend you to see.

Even more interesting can be found in cryptodata millionaires. Also don’t forget to follow us on Yandex Zen.


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