Bakkt

[LUCKMCFLY]

Interesting article that talks about Wall Street to Washington with Bakkt

Additionally, Bakkt has some concrete plans to facilitate its crypto expansion into the mainstream in 2020 — a consumer app developed in conjunction with the “flagship retailer” Starbucks. According to the company, the app will help consumers “unlock the value of digital assets, as well as ways in which they can transact or track them.”

There are many plans for 2020, but not before mentioning the app that is well explained in: Bakkt Teases Launch of Consumer Payments App Scheduled for 2020, cointelegraph.com, And all the products launched, it is expected that by 2020 the price can reach much higher levels, as the crypto scenario is very promising.

Source: https://cointelegraph.com/news/wall-st-to-washington-bakkt-launches-new-products-ceo-joins-senate

[LUCKMCFLY]

Updated Bakkt...

ICYMI: Friday's Bakkt Bitcoin Monthly Futures:

📉 Traded contracts: 1551 ($11.23 million, -22%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $6.33 million (+13%)

Sats for servercosts: https://tippin.me/@BakktBot

Source: https://twitter.com/BakktBot/status/1205853708787101697

According to Trabue Bland, President of ICE Futures U.S.:

“Based on our benchmark physically delivered bitcoin futures, these options contracts offer our customers a capital-efficient new tool for trading and for managing volatility, price risk and income generation,”

Source: https://www.businesswire.com/news/home/20191212005554/en/

[Febo]

Volume declining last two weeks. I guess main reason is simply to stable price of Bitcoin. To break welly high volume we will or need more volatile Bitcoin or some more time.

[LUCKMCFLY]

Updated BAKKT..

ICYMI: Monday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 2898 ($19.90 million, +87%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $7.02 million (+11%)

Sats for servercosts: https://tippin.me/@BakktBot

Source: https://twitter.com/BakktBot/status/1206940871716945920

[fillippone]

Updated BAKKT..

ICYMI: Monday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 2898 ($19.90 million, +87%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $7.02 million (+11%)

Sats for servercosts: https://tippin.me/@BakktBot

Source: https://twitter.com/BakktBot/status/1206940871716945920

Nice, if you look cloesely you'll notice Open Interest is at historical maximum: this means more BTC will be actually bought at contract expiry.

BAKKT had a slow start, but thing are starting to roll positively.

[Hueristic]

What are Bakkt's wallet addresses?

[Febo]

What are Bakkt's wallet addresses?

They store Bitcoin in warehouse not in wallets.


Not that great week for Bakkt

[fillippone]

What are Bakkt's wallet addresses?

They store Bitcoin in warehouse not in wallets.


Not that great week for Bakkt

Well wharehouse is an exotic term for a wallet actually. That is the only way I know to store a bitcoin.
So they have a wallet, where they deposit the bitcoin to be sent at future expiry to future holders.

Regarding the volume: I think it’s quite common for future exchanges to have limited liquidity over the holidays and across End of (fiscal) Year. I think we will se a surge back in volumes and open  interest in January.

[Hueristic]

What are Bakkt's wallet addresses?

They store Bitcoin in warehouse not in wallets.


Not that great week for Bakkt

Haha, I missed this. good one I choked on my coffee.

[fillippone]

What are Bakkt's wallet addresses?

They store Bitcoin in warehouse not in wallets.


Not that great week for Bakkt

Haha, I missed this. good one I choked on my coffee.

Wait. Was it sarcasm? I have problems with sarcasm, way beyond the Poe’s Law...

[Hueristic]

What are Bakkt's wallet addresses?

They store Bitcoin in warehouse not in wallets.


Not that great week for Bakkt

Haha, I missed this. good one I choked on my coffee.

Wait. Was it sarcasm? I have problems with sarcasm, way beyond the Poe’s Law...

You weren't making a joke?




So anyways what are their addresses?

[fillippone]

Apparently, Bakkt Options didn't get much traction:

Literally No One Is Trading Bakkt’s Bitcoin Options

Trading volumes in bitcoin options listed on the Intercontinental Exchange's Bakkt platform have completely dried up, even while CME’s options product is seeing strong interest.

As per Bakkt’s data, not a single bitcoin options contract was traded last week on Bakkt, with activity last registered on Jan. 17, when 20 lots had changed hands.

This is fairly disappointing. Bakkt futures are still lagging behind CME, but I think is something we could expect given the physical nature of such futures and the fact CME has been trading since a couple of years. Options volumes (not to speak about open interest) is really disappointing, by the way.
Also please note that Bakkt themselves have never commented on such products since launch.

[Saint-loup]

Apparently, Bakkt Options didn't get much traction:

Literally No One Is Trading Bakkt’s Bitcoin Options

Trading volumes in bitcoin options listed on the Intercontinental Exchange's Bakkt platform have completely dried up, even while CME’s options product is seeing strong interest.

As per Bakkt’s data, not a single bitcoin options contract was traded last week on Bakkt, with activity last registered on Jan. 17, when 20 lots had changed hands.

This is fairly disappointing. Bakkt futures are still lagging behind CME, but I think is something we could expect given the physical nature of such futures and the fact CME has been trading since a couple of years. Options volumes (not to speak about open interest) is really disappointing, by the way.
Also please note that Bakkt themselves have never commented on such products since launch.

Yes as I said in another thread I think institutional investors don't like Bakkt very much because it's regulated, monitored, protected with circuit breakers, etc and it's only used by professional traders. Moreover the settlement is done with its own price while other futures and options exchanges use the BTC price of few unregulated exchanges (eg Bitstamp, Coinbase, Gemini, itBit, and Kraken for CME) for the settlements. So it's way harder and risky to play with the price on Bakkt.

[darewaller]

Lol! People were so excited about bakkt and how it would increase the price of bitcoin and look at it now . It is literally at zero for the past week and they are not even trying to hide it or fake volume it or anything, they just let everything go. If bakkt deals with everything like this I wonder how they have survived so far on other stuff, personally I would have expected them to literally go bankrupt until they start the bitcoin part of their business if they were this bad on anything else.

Thankfully public doesn't care about bakkt anymore so that price can't get any lower because of it, they can close down shop all together and not deal with crypto anymore from now on and it would still not hurt bitcoin or any other coins prices. I say good riddance, we don't need them.

[fillippone]

Lol! People were so excited about bakkt and how it would increase the price of bitcoin and look at it now . It is literally at zero for the past week and they are not even trying to hide it or fake volume it or anything, they just let everything go. If bakkt deals with everything like this I wonder how they have survived so far on other stuff, personally I would have expected them to literally go bankrupt until they start the bitcoin part of their business if they were this bad on anything else.

Thankfully public doesn't care about bakkt anymore so that price can't get any lower because of it, they can close down shop all together and not deal with crypto anymore from now on and it would still not hurt bitcoin or any other coins prices. I say good riddance, we don't need them.

Bear in mind that we ar talking about options.

Totally different than futures, where Bakkt is slowly kranking up the machine. Yesterday they set their record Open Interest.

raded contracts: 1169 ($11.10 million, -3%)
🚀 All time high: 6601 (12/18/2019)
💰 Open interest: $10.00 million (+13% - new all time high 🚀)

https://twitter.com/BakktBot/status/1222885951090909184?s=20

Not negligible.

[Febo]

https://twitter.com/kloeffler/status/1226672158803464192





But I did exactly zero for BTCitcoin.


Yours faithful,

Bitcoin Senator Kelly

[Febo]

In the last 6 weeks average volume was around $50 millions a week and open interest around $6.5 million.  As soon covid-19 uncertainty started happening volumes shrank.

[Febo]

38th week ended. $111 millions volume. It seems volume hands around $100-120 million in last weeks. Hopefully with the price increase also interest for Bitcoin will increase.

[Febo]

OK. This is time for when BAKKT was founded. Yesterdays volume was almost as much as highest weekly volume so far.

https://twitter.com/BakktBot/status/1288463064115949571


$137 million vs  $146 million at second week of this year.   This week will be a record by far.

[Hueristic]

OK. This is time for when BAKKT was founded. Yesterdays volume was almost as much as highest weekly volume so far.

https://twitter.com/BakktBot/status/1288463064115949571


$137 million vs  $146 million at second week of this year.   This week will be a record by far.

Quick question, how much of that was actual bitcoin changing hands?