The international cryptocurrency platform Bakkt is in the Bitcoin and coming altcoin news for a date at which it will officially begin testing the product. According to a company blog post published on June 13, the Bakkt BTC futures testing (with physically-delivered Bitcoin futures) will begin on July 22.
Bakkt is a crypto platform that is known for its delays over regulatory compliance since its original announcement to launch the Bitcoin futures trading in August 2018. Currently, the platform decided to offer the BTC futures as the first in a series of offerings. However, full details of the entire thing still remain unclear.
What we have now regarding the Bakkt BTC futures testing is information from the chief operating officer Adam White, who is featured in the blog post for stating:
“On July 22, two days after Apollo 11’s 50th anniversary, Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.”
The COO of Bakkt went on and praised the Bakkt BTC futures trading, adding:
“This is no small step. This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.”
White also compared the move to the first moon landing in 1969, accenting that the hurdles the company has had to cross in order to provide the fully regulated crypto products that it wants for institutional investors. Because of the parallel, he went viral on many best cryptocurrency news sites.
What’s also interesting is that this announcement comes the same week as the data which shows that Bitcoin futures from CME Group turned a record high volume in May this year. At the same time, CBOE (which is the first ever provider of Bitcoin futures), announced that it will stop offering contracts when its final contracts settle later this month.
However, the Bakkt BTC futures are unlike many traditional programs. They are planned to settle their contracts in physical Bitcoin rather than fiat currency. This is why they have been a hot topic in the latest cryptocurrency news for sometime now – and why their launch is very much expected by everyone in the crypto community.
Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
Bitcoin Just Surpassed 1 Million Daily Active Addresses
"When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23. Yesterday 1 BTC was $8,230 and the median tx fee was $1.33."Even though the DAA does not man much in practice, the fact that Bitcoin just surpassed 1 million daily active addresses is an important metric on many altcoin news sites - mostly because it shows actual and unique transfers which are separate from the direct ones to and from bigger exchanges. The fact that there are more than million unique addresses transacting on the blockchain is good for Bitcoin. https://twitter.com/kerooke/status/1139919876838047744 In order to put this number in perspective, however, we can link to Uber and its estimated 14 million rides per day or estimated 798,877 iPhones a day which Apple sold in 2017. While these are comparisons like Apples to oranges, it is definitely interesting to note that Bitcoin is doing the transaction volume of some of the biggest brands in the world. The news that Bitcoin just surpassed an interesting milestone are re-shared on many best cryptocurrency news sites. Curiously, shortly after reaching this milestone, Bitcoin's price started rising going from $8,450 to a $9,300 high. At press time, the Bitcoin price seems to have corrected and is trading a little over $9,100. One of the factors behind the flagship cryptocurrency and its price rise could be Facebook's foray in the crypto space. Still, Bitcoin just surpassed 1 million daily active users and there could be a real possibility that BTC is heading for the $10,000 mark by June 21 because of it. Right now, there are no coming altcoin news or altcoins showing a similar level - or active addresses which surpassed one million. The Bitcoin traders should be proud of that - and proud of a retracement for the Bitcoin blockchain which has not been since two years ago - in November 2017.
Bitcoin Above $9.3k: BTC Price Records A 13-Month High
Coinbase Custody Has $1.3bn In Assets Under Custody
“We have $1.3bn AUC and expect to hit $2bn soon. We have no intention of stopping there. [...] Coinbase Custody services over 90 clients. Of those, approximately 40% are outside of the US.”The tweet also claims that - as cryptocurrencies mature and become an even more popular and dominant asset class- financial hubs such as the city of London are becoming centers for crypto innovation. Another tweet notes:
"1/ Last week Coinbase Custody CEOA month ago, during one on-stage discussion at Consensus, the CEO of Coinbase Brian Armstrong said that its custody service had already raked $1 billion in assets under management (AUM). Having that in mind and the latest cryptocurrency news showing that this number went to $1.3 billion - it is certain that the custodial branch of the exchange is soon going to hit the $2 billion mark. Meanwhile, as we reported in March this year, the US Securities and Exchange Commission (SEC) is soliciting industry input as it potentially reconsiders the existing custody rules in specific cases of digital asset trading as well as settlement. Aside from Coinbase Custody and its London presence, the Hong Kong-based trading and asset management firm BC Group also announced that it is launching an insured custody service for cryptocurrencies.
@sammcingvale and Coinbase CISO @SecurityGuyPhil visited the UK to discuss the institutional cryptoeconomy with a range of prospects and clients."
Join us on Facebook
- Bitcoin Hash Rate Reaches New High As Price Reclaims $9,000
- Indian Central Bank Denies Knowledge Of Proposed Crypto Ban Bill
- Gold-Backed Russian Crypto Could Crush The USD Standard
- Crypto Trading In The US Becomes A Nightmare, What’s The Solution?
- TRON Community Aims To Get The Token Listed On Coinbase
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Regulation4 days ago
Financial Action Task Force Wants To Turn BTC Exchanges Into Banks
Ethereum News2 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News2 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News2 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News3 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Blockchain News4 days ago
Erik Finman Will Bring Crypto To The Masses With The Help Of CoinBits
Altcoin News5 days ago
Coinbase VISA Card Is Now Live In Six European Countries
Altcoin News2 days ago
Crypterium Launches A Global Crypto Payments Card