In the year 2019, the derivatives market of Bitcoin were highly fortunate, as it was a very fruitful period for them. During that time period, Bitcoin hit a year-high of $13,880 which was profitable for the Future and Options market. 

But nothing remained the same in March 2020.
<h2>Investors Started Selling-Off Cryptocurrencies</h2>
After the market crashed on March 12, 2020, the investors sentiment for Bitcoin started changing, especially for BitMex, as they were left with no other option but to sell-off thier cryptocurrencies. 

However, some other Bitcoin exchanges like Bakkt did not get affected by market crash.

Recently, while talking about Bakkt’s growth, Arcane Research, <a href="https://twitter.com/ArcaneResearch/status/1242803766971101184?s=20" target="_blank" rel="noopener">tweeted</a>, “ICE‘s brainchild Bakkt is, surprisingly, recording a lucrative period, despite market turbulence.”
<blockquote class="twitter-tweet">
Physical <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> delivery on <a href="https://twitter.com/Bakkt?ref_src=twsrc%5Etfw">@Bakkt</a> increased 44% in March, although being relatively flat in USD. Despite the recent market instability, Bakkt seems relatively unaffected. <a href="https://t.co/sZ1XEWqVM9">pic.twitter.com/sZ1XEWqVM9</a>
— Arcane Research (@ArcaneResearch) <a href="https://twitter.com/ArcaneResearch/status/1242803766971101184?ref_src=twsrc%5Etfw">March 25, 2020</a></blockquote>
According to a report, in March 2020, Bakkt recorded a 44 percent growth for delivering physical Bitcoins. The report further stated that during the crash the trading volume of Bakkt was not affected at all, it was at the same pace.

<img class="aligncenter wp-image-163935 size-full" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2020/03/screenshot-eng.ambcrypto.com-2020.03.26-16_08_43.png" alt="" width="673" />

On March 13, 2020, the cash-settled contracts of exchange experienced a drop. The total trading volume on that day tumble to $3.8million but on the same day, it rises up too,  to $8.2 million.
<h2>Bakkt-CME Comparison</h2>
While comparing Bakkt’s statistics with CME, Skew Chart stated that on March 12, 2020, it (CME) experienced the highest trading volume with $595 million on record. Although it declined later, daily trading volume remained higher. The report by Skew Chart also mentioned that during the crash, the Open Interest of CME, which earlier was $171 million, fall to $107 million. And as it reached to the range of $120 million, the Open Interest became constant.

The report added that apart from CME and Bakkt other retail exchanges, especially the BitMEX, Deribit etc. suffered a fall. Recently, the market is recovering but the activity on these exchanges is still restrained. 

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Trading Volume On Bakkt Remain Constant Amidst Crisis

On March 12, 2020, when the market crashed, the investors sentiment for Bitcoin started changing, especially for BitMex, but Bakkt did not get affected.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Trading Volume On Bakkt Remain Constant Amidst Crisis

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