Hey ninjas, how’s the trading going? The majority of the top 20 cryptocurrencies are in the red zone (reporting losses), top altcoin Ethereum was initially trading above the $200 margin but has dipped once again and is trading at $198 at press time. Ethereum is down 5.48% in the last 24 hours and it's market cap value is $21 billion at press time.
The largest and most popular cryptocurrency bitcoin is also reporting losses in the last 24 hours, BTC is reporting 2.09% losses in the last 24 hours and is trading at $9,717 at press time.
if you remember we posted about Bakkt launching its future trading earlier. Intercontinental Exchange’s Bakkt platform has traded 71 Bitcoin (BTC) future contracts in the first 24 hours after its launch according to ICE historical data.
The platform traded these Bitcoins with the last recorded price setting at $9,875. Professional trader and author Rakesh Upadhyay commented on Bakkt’s exchange platform explaining that the slow reception of Bakkt’s new platform is probably because the currency price has been range-bound recently and traders are in no hurry to initiate positions.
Some days before the official platform launch the ICE put in place margin requirements for the contracts, the daily and monthly hedge requirement was initially $3,900 and the speculative requirement for both contracts was initially $4,290.