Bakkt Sees Improvement Amongst Bitcoins Crash

Table of Contents

• Bakkt’s Back Baby!

This week hasn’t exactly been a good week for Bitcoin. The leading cryptocurrency has been hit big time and is currently priced at $7.4k at the time of writing. Many investors will have been anticipating this for the past month given the number of price fluctuations we’ve seen these last few weeks.

But with every cloud comes a silver lining and it seems that Bakkt is benefitting from the crash.

Bakkt’s Back Baby!

According to the Bakkt Volume Bot on Twitter, the newfound platform has set a record volume high. For those that don’t know, the volume bot is a tracking robot on the social platform that looks out on the volumes of the platform’s flagship bitcoin futures market.

So as of 2:02 PM (EST), the Twitter bot registered that Bakkt’s Bitcoin futures market has just seen 507 BTC of volume, despite the trading session not being finished yet. 

∙ Today's volume so far: 507 BTC
∙ Last traded price: $7,470.00
∙ Trading day progress: 46%
∙ Today's forecast (beta feature): 1103 BTC

— Bakkt Volume Bot (@BakktBot) 23 October 2019

There doesn’t seem to be a distinct trigger for this but it’s strange that it all happened after BTC crashed.

That being said, as previously reported by CryptoDaily, the CEO and founder of Facebook, Mark Zuckerberg has now officially spoken on the controversial and highly anticipated project from Calibra, the Libra stablecoin. Preparing his general responses, Zuckerberg was set to tell the lawmakers that the United States risks losing “financial leadership” to other nations, specifically China if they don’t get behind Libra. Some believe that it was Zuckerberg’s hearing that tipped BTC over the edge…

For more news on this and other crypto updates, keep it with CryptoDaily!