Bakkt Gaining More Traction As Bitcoin Surges

Even though Bakkt had a rough start a few weeks ago, the ICE-baked Bitcoin futures platform has traded 224 Bitcoin in just one day. That would be worth $1.9 mln at current prices. Bakkt was heavily anticipated by the industry but on the day of its launch, the leading cryptocurrency crashed, leaving many surprised. 

Contracts traded so far today: 224 BTC
Last traded price: $8,582.50

— Bakkt Volume Bot (@BakktBot) October 10, 2019

Such excitement surrounding Bakkt but it quickly dissipated when the exchange started recording more than underwhelming numbers. It didn’t take long for Bakkt to be classed as a flop since the hype built up for it was nowhere near satisfied. 

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

As reported by u.today:

“As of Oct. 9, Bakkt's last recorded trading price was $8,582. Bitcoin, the top cryptocurrency by market capitalization, is currently trading at $8,599 after a 5.53 percent price increase over the last 24 hours, according to CoinStats data.”

In terms of the price today, Bitcoin is worth $8,529.20 following a 3.76 increase over the past 24 hours. 

It will be interesting to see how this situation plays out and whether Bakkt will slowly but surely become more successful as time goes on. For more news on this and other crypto updates, keep it with CryptoDaily!