BTC & ETH Week Trading Volume Reach 7 Month Highs

Is cryptocurrency market restoring? Let's try to figure it out
26 December 2018   807

For the week from December 17 to December 23, weekly Bitcoin trading volumes (BTC) were $ 46 billion, while for Ethereum (ETH) the same figure was $ 18.5 billion. Last time at higher levels trading was in May, seven months ago, The Block notes.

At the end of November, the total trading volume of Bitcoin exceeded $ 2 trillion, and by the end of the year this figure is expected to grow to $ 2.2 trillion. The overall growth in the trading volume of the first cryptocurrency was 153% higher than in 2017, when this figure was $ 870 billion.

With a score of more than $ 800 billion, Ethereum (ETH) is the second most traded cryptocurrency, and accounts for about 37% of bitcoin trading. As can be seen in the table below, the levels of BTC and ETH are still significantly correlated.

Weekly Volume ETH and BTC (2018)
Weekly Volume ETH and BTC (2018)

As of 13:00 UTC on Wednesday, December 26, the weighted average rate of Bitcoin was $ 3,812, the trading volume for the last 24 hours was $ 5.451 billion. At the same time, the broadcast cost $ 130.40 with daily volumes of $ 2.976 billion.

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   237

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.