Lost Hope In Bakkt Revived With A 796% Trading Volume Increase In One Day, Hitting A New All-Time High

Bakkt Announces The Start Of BTC Custody Services Ahead Of Official Launch On September 23
Advertisement

Bakkt, once again catches media attention, as trade volume on the platform reached 224 BTCs on Wednesday, 9th October 2019.

This, however, is a 796% percentage change compared to the previous day which says traders on the platform traded 25 BTCs only. This commendable achievement has once again revived the lost hope people had in Bakkt as they look for better days ahead.

Bakkt Makes A Comeback

Hours after one of the most anticipated events commenced, the launch of the Bakkt futures contract, it could only boast of a meager 28 BTCs traded on its exchange.

Many anticipated Bakkt to be the intermediary between large institutions and the crypto market. As the case was and still is, large institutions are skeptical about entering the crypto market because of its highly volatile nature.

Advertisement

These institutions preferred a better-regulated environment, which Bakkt was to provide. But apparently, things haven’t worked out as planned; however, with the latest event, Bakkt seems to be claiming its position as initially expected.

Crypto Twitter Reacts To Recent Achievement

Bakkt’s recent event caused a lot of mix reactions from crypto enthusiasts on Twitter. While a school of thought believes that Bakkt is gradually living up to expectations again, the other school of thought maintains this new achievement still doesn’t show the interest of institutional traders in bitcoin whatsoever.

What's Your Thought On This?, Let Us Know In the Comment Section Below.

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram