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 Sept. 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%. According to crypto market data aggregator Skew, the record figure is roughly double the average daily volumes posted throughout September so far. Despite being touted as the likely catalyst for an institutional-led bull market, Bakkt’s Bitcoin derivatives failed to meet the expected impact, seeing sustained …
Many traders entering cryptocurrency markets from traditional finance may look to derivatives as vehicles for price speculation and hedging. There are plenty of choices when it comes to exchanges and instruments; however, traders should consider a few key differences between crypto futures and traditional futures before dipping a toe into this rapidly growing market. Related: 3 things every crypto trader should know about derivatives exchanges Different instruments Traders entering cryptocurrency from the traditional markets will be accustomed to futures contracts with a fixed expiration date. Although fixed expiration contracts can be found in cryptocurrency markets, a significant proportion of crypto …
With BTC again edging toward all-time highs, a large volume of money is flowing into the Bitcoin derivatives markets. According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new all-time highs on March 11, with open interest across exchanges approaching $20 billion. More capital is flowing into the derivatives markets, as the amount of outstanding #Bitcoin futures contracts reaches another ATH. Open interest across major exchanges is currently sitting at the verge of the $20B mark. Chart: https://t.co/ygoffzMSJW pic.twitter.com/BiJIpyTKDD — glassnode (@glassnode) March 11, 2021 Options have also surged to see record volumes in 2021, with Derebit …
Aaron Gong, vice president of futures at major cryptocurrency exchange Binance, explained to Cointelegraph how the firm managed to become one of the top crypto futures trading platforms. As Cointelegraph reported earlier this week, Binance recently overtook BitMEX and became the second-largest platform in terms of 24-hour Bitcoin (BTC) futures trading volume. When asked whether he is surprised by such success, Gong said that the firm created the product with the plan of becoming the top Bitcoin futures trading platform: “We knew we would be there soon, and we made it in slightly more than 6 months’ time.” The reasons …
Adam White, the president and founding executive of digital assets company Bakkt, is leaving the firm after three years. In a Thursday post on Twitter, White said next week would mark his departure from Bakkt, where he has served as both chief operating officer and president. White joined Bakkt after leaving Coinbase in 2018, where he worked as a vice president and general manager. The Bakkt president did not reveal what his next move would be, or whether he would continue to work in the crypto space. “I’ve loved working at intersection of crypto + markets and good to see …