Bitcoin futures open interest on digital asset platform Bakkt has hit a new all-time high.


Bitcoin (BTC) futures open interest on digital asset platform Bakkt has hit a new all-time high.

According to a Dec. 3 Twitter post published on Dec. 3 by Bakkt Volume Bot -mdash; a Twitter account dedicated to reporting Bakkt trading volumes -mdash; Monday-rsquo;s open interest on Bakkt Bitcoin futures reached a new all-time high of $6.5 million.

In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open interest, new or additional capital is flowing in.-

Regularly breaking records

The reported open interest is a 42% increase from the previous day, which was an all-time high as well. Last Friday and Saturday saw open interest records of $4.2 million and $4.3- million, respectively.

The platform-rsquo;s trading volumes have been continuously breaking records since its launch in September. At the end of November, daily volumes on the platform hit a new all-time high of over $42.5 million -mdash; or 4,443 BTC at the time.

Also in November, Bakkt-rsquo;s chief operating officer Adam White announced the firm-rsquo;s move to include a cash-settled option in an apparent bid to further increase the platform-rsquo;s popularity among investors. The Intercontinental Exchange -mdash; Bakkt-rsquo;s parent company -mdash; later confirmed the launch of the option for Dec. 9.

Bakkt-rsquo;s management could also soon start influencing United States-rsquo; cryptocurrency regulation. As Cointelegraph reported on Dec. 1, Georgia Governor Brian Kemp is expected to appoint Bakkt chief executive officer Kelly Loeffler for a United States Senate seat.





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