• About us
  • Contact Us
  • Privacy & Policy
CryptoCoinNewsHub.com
No Result
View All Result
Thursday, July 9, 2020
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
CryptoCoinNewsHub.com
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
No Result
View All Result
CryptoCoinNewsHub.com
No Result
View All Result
Home Ethereum

Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours

September 24, 2019
in Ethereum
3 min read
0
Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Intercontinental Exchange’s (ICE) Bakkt platform has traded 71 Bitcoin (BTC) futures contracts in the first 24 hours following its launch on Sept. 22.

According to ICE historical data on Bakkt’s Bitcoin/USD futures contract trading, the platform has traded 71 BTC at press time, with the last recorded trading price settling at $9,875 per Bitcoin.

Bakkt Trades 71 Bitcoin Futures Contracts in First 24 Hours, CryptoCoinNewsHub.com

Bakkt Bitcoin (USD) monthly futures contract. Source: ICE

In an analysis for Cointelegraph earlier today, Rakesh Upadhyay wrote that the lukewarm reception to the Bakkt launch is likely due to the fact that the currency’s price has been range-bound recently, so institutional traders are in no hurry to initiate positions.

Initial margin limits for Bakkt’s futures trading

A few days prior to the platform’s launch, ICE determined tentative margin requirements for the contracts. The initial hedge requirement for daily and monthly futures contracts is $3,900, while the speculative initial requirement for both contracts is $4,290.

The inter-month add-ons for the monthly and daily futures contracts are between $400 and $1,000 for the hedge rate and between $440 and $1,100 for the speculative rate.

Impetus behind Bakkt’s launch

The newly-launched platform — which is the first of its kind to receive approval from United States regulators — was initially announced a year ago. By establishing Bakkt, ICE intended to create an integrated platform that enables consumers, merchants and institutional clients to buy, sell, store and spend digital assets on a “seamless global network.”

Following Bakkt’s launch, Bakkt CEO Kelly Loeffler said the institution provides “reliable and regulated infrastructure” while pushing for the “adoption of new digital currency-powered technology and financial instruments.”

RELATED  China’s National Crypto Similar to Libra, Central Bank Official Says

Industry players’ reaction to Bakkt’s launch

In anticipation of Bakkt’s launch, Fundstrat Global Advisors’ Thomas Lee argued that Bitcoin and cryptocurrencies will gain a better reputation from Bakkt, thus joining the increasing number of Bitcoin figures bullish about Bakkt’s impact on the space. Lee wrote, “I am very positive on Bakkt and its ability to improve trust with institutions to crypto.”

American investor and Morgan Creek Digital Assets co-founder Anthony Pompliano said that Bitcoin will end up in every institutional investor’s portfolio:

“The more infrastructure that’s built around this, the more likely it is to never go away […] we’re at a tipping point now where Bitcoin is here to stay. It’s going to end up being in every institutional investor’s portfolio.”


Credit: Source link

  • Trending
  • Comments
  • Latest
Circle Looks to Raise $100M for Its Equity Platform SeedInvest

Circle Looks to Raise $100M for Its Equity Platform SeedInvest

August 23, 2019
Bitcoin is Absolutely Clobbering Your Favorite Altcoin This Season

Bitcoin is Absolutely Clobbering Your Favorite Altcoin This Season

July 5, 2019
Iran’s Government Officially Legitimizes Cryptocurrency Mining

Iran’s Government Officially Legitimizes Cryptocurrency Mining

July 29, 2019
Google’s ‘Quantum Supremacy’ Has No Impact on Bitcoin

Google’s ‘Quantum Supremacy’ Has No Impact on Bitcoin

October 11, 2019

Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet

February 7, 2020

XRP Beats Ethereum and Bitcoin as the Best Performing Crypto

February 1, 2020

Robin Hood- Problems in more than just Sherwood Forest

January 28, 2020

One Wallet Has 27% of Ether in Old MakerDAO Network

January 26, 2020
CryptoCoinNewsHub.com

CryptoCoinNewsHub.com is an online news portal which aims to provide latest trendy crypto news around the world with real time updates.
Email us hello@cryptocoinnewshub.com

Topics to Cover

  • Bitcoin
  • Blockchain
  • Business
  • Crypto News
  • Ethereum
  • Ripple
  • Tech
  • Trading

Whats New Here!

  • Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet
  • XRP Beats Ethereum and Bitcoin as the Best Performing Crypto
  • Robin Hood- Problems in more than just Sherwood Forest

Subscribe to get more

Simply subscribe to our newsletters and we will be in touch. Don't worry, we won't spam you

© 2019 CryptoCoinNewsHub.com - All rights reserved

No Result
View All Result
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading

© 2019 CryptoCoinNewsHub.com - All rights reserved

  • bitcoinBitcoin(BTC)$8,152.26-0.70%
  • ethereumEthereum(ETH)$175.30-1.63%
  • rippleXRP(XRP)$0.252799-0.58%
  • bitcoin-cashBitcoin Cash(BCH)$242.68-2.16%
  • tetherTether(USDT)$1.000.27%
  • litecoinLitecoin(LTC)$55.01-1.92%
  • eosEOS(EOS)$3.11-2.39%
  • binance-coinBinance Coin(BNB)$18.56-2.84%
  • cardanoCardano(ADA)$0.042556-2.10%
  • stellarStellar(XLM)$0.064655-3.04%
  • tronTRON(TRX)$0.016891-2.25%
  • moneroMonero(XMR)$58.64-0.32%
  • neoNEO(NEO)$11.682.51%
  • iotaIOTA(MIOTA)$0.245122-1.96%
  • dashDash(DASH)$65.431.15%
  • nemNEM(XEM)$0.039494-0.75%