The crypto community waited for the launch of the Bakkt platform – it was precisely today that trading in deliverable Bitcoin futures started, what happens with the cryptocurrency rate?
As soon as the trading of the flagship cryptocurrency began, it was possible for some time to break beyond the level of $ 10 thousand, but soon the rate again rushed down. According to Bakkt, the size of the first deal was $ 10,115.
Recall that the contracts offered by the Bakkt platform give market participants the right to bet on a change in the Bitcoin exchange rate in the future. Participants can receive payment in crypto funds. This feature is the main difference between the new instrument and regulated futures, which are already presented at CME – they allow traders to receive only the fiat equivalent of BTC-income.
It is still difficult to say how the activity of traders on Bakkt will affect the dynamics of Bitcoin, but it can be said for sure that the start of trading had practically no effect on cryptocurrency. Moreover, the weakening of BTC led to a decrease in altcoin price indicators.
