Bakkt Bitcoin Futures Smashes Daily Volume Record By 36%

Despite the milestone, Bakkt’s future volumes pale in comparison to those of top crypto exchanges Binance and Huobi .

Bakkt, a regulated platform for crypto asset custody and trading owned by Intercontinental Exchange, has reported record daily trading volumes for its physically-settled Bitcoin (BTC) futures contracts.

On September 16, Bakkt announced that more than $200 million worth of BTC contracts had been traded over a single day — breaking its previous record by 36%.

Despite the new all-time high, Bakkt’s volumes pale in comparison to the trade activity on the largest cryptocurrency exchanges. Over the past 24 hours, Binance’s BTC-USDT perpetual contract — a futures contracts with no expiry or settlement date — drove $2.65 billion in trade, while the exchange’s 74 futures pairings pushed $5.96 billion collectively.

Huobi’s 103 futures pairings generated $5.48 billion in trade over the past 24 hours, including $1.28 billion from the platform’s BTC-USD perpetual contract. OKEx’s BTC-USD perpetual contracts saw $516 million worth of trading today, with the exchange’s 466 futures pairings driving $2.72 billion in total.

However, Bakkt beat out Derebit today, with Derebit’s BTC-USD contract generating $168 in 24-hour volume.

[image:pixabay]

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