Cryptocurrency derivatives exchange Bakkt has witnessed a jump in the trading volume of its physically-settled monthly bitcoin futures.
The volume hit ~$4.81 million on Wednesday; the figure is more than the total volume over the nine previous trading days combined. The jump is likely because bitcoin saw increased volatility yesterday, as its price crashed by about 6% in a few minutes.
The total volume of Bakkt’s monthly bitcoin futures now stands at $20.22 million since its launch on Sept. 23. It means the average volume has been ~$0.88 million a day over the last 23 trading days.
Source: The Block, Bakkt