Bakkt hits all time high once more! Bakkt hits all time high after setting a high bar just a few weeks ago!
According to a Dec. 3 Twitter post published on Dec. 3 by Bakkt Volume Bot — a Twitter account dedicated to reporting Bakkt trading volumes — Bally’s Bitcoin futures reached a new all-time high of $6.5 million.
Open interest in a futures markets is the number of open contracts in the market – they’re often used to gauge health in a market. When there is more open interest, more capital tends to follow.
Open interest in Bakkt’s Bitcoin futures market saw a 42% increase from the day prior. Last Friday and Saturday saw $4.2 million and $4.3 million respectively.
The platform keeps breaking trading volumes since its launch in September. At the end of last month, daily volume on the platform hit over $42.5 million.
Bakkt also announced last month that the firm is moving to include a cash-settled option. This was an attempt to make the platform more popular with regular investors. The launch of the cash settled option is set for December 9th.
Bakkt’s management team is also being tapped for civil service. Brian Kemp, Georgia’s governor, is expected to ask Kelly Loeffler to fill the state’s senate seat.
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