Bakkt Bitcoin Futures Open Interest Hits New All-Time High of $6.54M
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 — a Twitter account dedicated to reporting Bakkt trading volumes — Monday’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’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 — or 4,443 BTC at the time.
Also in November, Bakkt’s chief operating officer Adam White announced the firm’s move to include a cash-settled option in an apparent bid to further increase the platform’s popularity among investors. The Intercontinental Exchange — Bakkt’s parent company — later confirmed the launch of the option for Dec. 9.
Bakkt’s management could also soon start influencing United States’ 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.
If reproduced, please indicate the source: http://www.uucj.net/bakkt-bitcoin-futures-open-interest-hits-new-all-time-high-of-6-54m/
Crypto exchange company Bittrex Global, today announced additions to its leadership team to better position the platform for a year of growth and new product development. Tom Albright, previously General Counsel of Bittrex Inc. in the U.S. now becomes a director of Bittrex Global and interim CEO of the parent company of Bittrex Global while Stephen Stonberg, currently COO of Bittrex Global, takes on the additional role of CFO. Roles are effective immediately. “I look forward to these new roles. Bittrex Global is at a pivotal stage in its development. Following its successful launch, there is a significant opportunity for the business to cement its position as the most secure and innovative platform for international digital asset investors.”– Tom Albright Albright has experience in financial services and crypto, previously working as an attorney for O’Melveny & Myers before joining Bittrex Inc. in 2018. Stonberg, who helped launch Bittrex Global in 2019, previously worked at Goldman Sachs, Brevan Howard, and Credit Suisse Asset Management. “Tom’s arrival will help accelerate the next stage of evolution for Bittrex Global. With this leadership team…Feb 18, 2020
Boeing and Airbus SE jets suppliers Woodward and Hexcel are merging to create a new provider for the aerospace industry. Within the deal, Woodward and Hexcel will increase their spendings on research and new developments in the sphere of aerospace. We are excited to announce our plans to merge with @HexcelCorp to propel the future of flight and energy efficiency. Learn more here: https://t.co/XRde8FHkMf pic.twitter.com/U2LsWhCGHV — Woodward, Inc. (@woodward_inc) January 12, 2020 As a result of the merge, Woodward shareholders will own about 55% of the new company. As for Hexcel shareholders, they will own some 45%. Woodward CEO Tom Gendron, who will become an executive chairman of the new enterprise, commented: “Our two companies are each independently working toward addressing the sustainability and efficiency needs of our customers. This merger accelerates our technology investments and creates greater benefits and growth opportunities than either company could have achieved alone. Both Woodward and Hexcel have attractive growth trajectories, with strong aftermarket positions and increased composite penetration driving our respective outlooks.” Hexcel as a New Aerospace Giant According to the announcement, Woodward and…Jan 13, 2020
When the Giants drafted Daniel Jones with the No. 6 pick in the draft, the writing was on the wall for Eli Manning. The end was near. No one expected it to come as early as it did this season back in Week Three, but the call was made, and the Daniel Jones era began. But to better prepare Jones for the future, the team may be better off letting Manning play in the present. The New York Giants could potentially have a very tough question on their hands this week. Do they insert rookie Daniel Jones back into the lineup or let longtime veteran Eli Manning have at least one more start? Whether the question will need answering depends on Jones’ injured ankle. Is he 100 percent and ready to go? Or would it be better for him to let it rest longer? Making A Case For (and against) Daniel Jones Jones is the future of the franchise. For the outlook on that future to improve, Jones needs to get reps, not just in practice but in games. The…Dec 18, 2019
This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Lou Kerner is an advisory board member at Blockchain Coinvestors, co-founder of CryptoOracle, and partner at Chameleon as well as Flight Ventures. MakerDAO started minting DAI in December 2017, and saw dramatic growth in 2018, as the daily supply in circulation grew to nearly 100 million: In March, 2019, MolochDAO went live with 22 founding members, each depositing 100 ETH (the equivalent of $330,000 at today’s price of $150) into the decentralized and autonomous grants system. At the Ethereal Summit just two months later, MolochDAO received another 1,000 ETH from both Joe Lubin and Vitalik Buterin, plus 2,000 ETH from a group of individuals from ConsenSys and the Ethereum Foundation. In its first six months, it gave more than $120,000 to 17 projects. 2019 also witnessed the scaling of decentralized exchanges as liquidity solutions improved VIA locking ETH. In total, we are now at peak ETH locked in DeFi applications:Dec 21, 2019
One of the broadest testnets for Ethereum 2.0 is advancing, already attracting 22,000 validators. The shift to proof-of-stake is still left for the future, but there are signs of incipient and growing interest. Largest Testnet for Ethereum 2.0 Starts Attracting Stakers Ethereum (ETH) has not moved as fast from mining to staking as previously promised. Instead, the network has taken a series of smaller steps. At the same time, entities interested in the ETH economics have tried to remain a step ahead, by testing the staking mechanisms offered. Prysmatic Labs has launched one of the largest testnets, outpacing single-client tests. The testnet launched this January 9, and immediately saw a pickup in reported validators. “Just saw nearly 100% participation from over 22k active validators on the world’s first boneless ETH2 testnet,” said Preston van Loon, a developer at Prysmatic, cited by Trustnodes. “These are 22k validating keys. It’s probably between 5 to 10 individual operators. Maybe more, but it’s hard to tell who controls keys and who’s just an observer,” he said. According to Raul Jordan, Prysmatic has launched the…Jan 18, 2020
According to bitcoin’s basic algorithm, bitcoin generates a block every 10 minutes, with N bitcoins in each block as compensation (the number of N is explained below). This block contains all bitcoin transaction information in the last 10 minutes. The process of making bitcoin is called “mining”. In this process, the computer packs the recently received bill into the newly made block. This packaging process is the manufacturing process, and there is only an extremely rare chance that it will be successfully made.(You can understand that the newly received bills are put together, one can’t be modified, and once the manufacturing fails, it will come again.) Once the manufacturing is successful, you broadcast the block, which means that you have obtained N bitcoins in this block as compensation. So what is N? According to the Bitcoin algorithm, in the first 4 years from the date of Bitcoin release, N = basic compensation (50 bitcoins) + transaction compensation(transaction fees for the entire bitcoin network in the past 10 minutes, each bitcoin transaction will consume 0.001 bitcoin as reward for miners). Every 4 years, the…Jul 24, 2019
Is the bottom in? Since Bitcoin (BTC) fell precipitously to $6,600 late last month, analysts have been asking if the leading cryptocurrency has finally found a price bottom after a multi-month downturn. According to a number of fractal analyses, which is comparing an asset’s historical price action to its current price action, the bottom just might be in. Related Reading: Crypto Tidbits: Deutsche Bank Gives Nod to Bitcoin, EOS to Host Social Media, France Digital Currency Bitcoin Bottomed at $6,600, Analyses Imply This weekend, this outlet reported on trader Jonny Moe’s analysis that Bitcoin is forming an Adam & Eve double bottoming pattern, marked by a strong sharp drop and rebound (the Adam) and a rounded downward move (the Eve). While this is bullish in and of itself, as it’s a traditional bottoming pattern seen across assets, analyst Crypto Bullet noted in a recent TradingView post that a very similar trend was seen at the bottom of the bear market nearly one year ago: “after that ultimate low we consolidated and formed Adam & Eve Pattern, which we broke out of…Dec 9, 2019
Jan 19, 2020 at 11:01 // News Cryptocurrencies and blockchain technology have peculiarities that, in the absence of adequate supervision, mean they are likely to become instruments harmful to the economic and monetary system as a whole, and risky for individual users, and be an additional useful tool for criminal organizations. The lack of regulation of these new technologies including blockchain, Bitcoin, internet of things, cryptocurrency, artificial intelligence, etc. carries the risk of illegal use by organized crime. Some of the common illegal activities for example used by these disruptive technologies include money laundering, drug trading, facilitating sex, funding terrorism, and many others. Recycling Risks Related with the Use of Cryptocurrencies and Blockchain The original and popular cryptocurrency, bitcoin, has been on the market for more than a decade. Since then, on the regulatory front, a few timid steps have been taken. There is no denying that virtual currencies are a “tool” potentially capable of improving the efficiency of the global financial system, thanks in part to the blockchain and distributed ledger technology (DLT) behind it. This nascent advanced technology…Jan 19, 2020
This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Bob Summerwill is Executive Director of the Ethereum Classic Cooperative, a volunteer for the Ethereum Project and Community Ambassador for CryptoChicks. 2016 and 2017 were divisive years for the ethereum ecosystem. It would have been easy for onlookers to think “Look at all of this in-fighting and drama. The next web? The next revolution? I do not think so. Ethereum is going nowhere!” They would have been dead-wrong in that assessment, as 2019 has demonstrated. In January 2016, the former CTO of the ethereum project, Gavin Wood, spun off the former ETHDEV C++ team to found Ethcore – later renamed as Parity Technologies. There has been an ongoing love-hate relationship between Parity and the rest of the Ethereum community ever since. This continues to the present day with its controversial proposal to move the Parity-Ethereum project into a DAO. In July 2016, we had world class drama when The DAO was drained of funds….Dec 26, 2019
Bitcoin ETFs just got another supporter. Paul Atkins, former commissioner in the United States Securities and Exchange Commission, spoke at the CoinMarketCap conference recently. He said that Bitcoin exchange-traded funds can help increase the accessibility of Bitcoin. Robert Geene, from the Center for Digital Financial Assets, also spoke at the event about ICOs, digital assets, Bitcoin ETFs, and stablecoins. The rising demand for Bitcoin ETFs stems from the fact that they represent the potential to increase the accessibility of Bitcoin. This is something traditional and will surely sustain in the market. The concept of ETF is to push more towards listing the security to entice more buying trends among retail as well as institutional investors. So, people aren’t just putting their money into anything. There is an intermediary step before security takes precedence. Bitcoin ETFs will gradually become the norm Paul further mentioned how the institutions are willing to enter the crypto realm, but the regulations hold them back. The laws aren’t particularly encouraging. In such a case, a Bitcoin ETF can charge the whole marketplace and act as a…Nov 16, 2019