Bakkt sets new all-time high in trading volume as Bitcoin price soars

Bakkt, the Bitcoin futures exchange backed by the owners of the New York Stock Exchange, today hit a new all-time high in trading volume.

At the moment, 1,131 futures contracts have been traded, with the last traded price set at $8,622 per contract. Together, those contracts represent approximately $9.7 million of trading capital. The previous all-time high record, set earlier this week on Wednesday, was for 640 contracts.    

Based on these figures, the unofficial Bakkt volume bot estimated that 2,095 monthly contracts, each consisting of 1 BTC, would change hands by the day’s end.    

This week has witnessed multiple sharp spikes in Bakkt’s trading volumes. For example, Wednesday’s bump in volumes represented a 653 percent increase in volumes. They have also coincided with an increase in the contract’s price.

When it began trading in September, each monthly futures contract was worth $9,965. But a cold reception from investors meant a steady decline in its…