Bakkt’s Bitcoin futures open interest reaches a new record high of USD 6.54 million
The open interest of Bitcoin futures (BTC) in the Bakkt digital asset platform has reached a new historical peak.
According to a December 3 Twitter post by Bakkt Volume Bot, a Twitter account dedicated to reporting Bakkt trading volumes, Monday’s open interest in Bakkt Bitcoin futures reached a new all-time high of USD 6.5 million .
In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open interest, new or additional capital flows.
Breaking records constantly
The reported open interest has an increase of 42% over the previous day, which was also a historical peak. Last Friday and Saturday it was possible to see records of open interest of USD 4.2 million and USD 4.3 million, respectively.
The trading volumes of the platform have continuously broken records since its launch in September. At the end of November, daily volumes on the platform reached a new historical peak of more than USD 42.5 million, or 4,443 BTC at that time.
Also in November, Bakkt’s chief operating officer, Adam White, announced the company’s decision to include a cash liquidated option in an apparent attempt to further increase the platform’s popularity among investors. Intercontinental Exchange, the parent company of Bakkt, then confirmed the launch of the option for December 9.
The Bakkt administration could also begin to influence US cryptocurrency regulation soon. As Cointelegraph reported on December 1, Georgia Governor Brian Kemp is expected to name Bakkt’s chief executive, Kelly Loeffler, for a position in the United States Senate.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.