CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$26,929.00
  • ethereum
    ETH$1,737.41
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Bakkt Is Here: The Highly Anticipated Bitcoin Futures Platform Launches With Minimal Volume

    Bakkt Is Here: The Highly Anticipated Bitcoin Futures Platform Launches With Minimal Volume

    Author: George Georgiev

    Last Updated Feb 19, 2023 @ 07:41

    The long-awaited launch of Bakkt, the Bitcoin futures trading platform of the Intercontinental Exchange (ICE), has finally happened. After more than a year of waiting, Bakkt opened for trading today, September 23. However, the trading volume as of yet is rather low, and the community is wondering whether it will pick up and if all the hype was justified.

    Bakkt Launches Trading With Minimal Volume

    BAKKT Markets, as it’s officially dubbed, is open for trading. According to the official website, the platform aims to bring federally regulated price discovery to the bitcoin market. It uses the same technology which powers the global markets of ICE, which is also the owner of the New York Stock Exchange (NYSE).

    One of the key differences between Bakkt and existing Bitcoin futures trading platforms is that the former’s contracts are settled physically. This means that instead of receiving the cash equivalent upon contract expiration, traders receive actual bitcoins. This should, in theory, produce better price discovery and increased market liquidity.

    Up to this moment, however, there have only been 27 contracts traded on the platform, which is rather low. Of course, the platform only launched a few hours ago.

    Bakkt is seen as a gateway for institutional investors to enter the Bitcoin market mainly because of its regulated warehousing and supposed improved price discovery. The company reportedly received a license from the New York State Department of Financial Services (NYDFS) to hold the funds of its users.

    Bitcoin Market Remains Unfazed

    Despite today being one of the most exciting days for the cryptocurrency community, Bitcoin’s markets have remained relatively unfazed. BTC is down 0.5% over the past 24 hours and is currently trading slightly below the psychological $10,000 level.

    At the time of this writing, Bitcoin is trading at $9,988 and possesses a total market cap of around $179 billion. Bitcoin’s dominance rate stands at 68%, which is a decrease of around 1.5% over the past week. This means that altcoins are attempting to break out and regain some of their former strength. However, the altcoin markets are also bleeding today, as the majority of cryptocurrencies are trading in the red.

    It will be very interesting to see how the entire situation develops and whether or not Bakkt will truly attract more institutional interest in the field, as that’s what the majority of observers seem to predict.

    This article was first published on: Sep 23, 2019

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    Tags: Bakkt Bitcoin
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

  • bitcoin
    BTC$26,929.00
  • ethereum
    ETH$1,737.41
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    How to Keep Your Crypto Safe, MetaMask Future Plans, and Digital Identities: Talking Wallets With PM Alex Jupiter

    How to Keep Your Crypto Safe, MetaMask Future Plans, and Digital Identities: Talking Wallets With PM Alex Jupiter

    What is Optimism (OP): Guide to One of Ethereum’s Layer-Two Scaling Solutions

    What is Optimism (OP): Guide to One of Ethereum’s Layer-Two Scaling Solutions

    Why ZK-Rollups Are the Future of Ethereum Scaling: Interview with StarkWare PM Gal Ron

    Why ZK-Rollups Are the Future of Ethereum Scaling: Interview with StarkWare PM Gal Ron

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!