Crypto Weekly (Oct. 23rd, 2019)

Oct 23, 2019 • 6 Min Read

Weekly recap...

  • Bakkt futures hit ATH, will launch options contracts on 12/9/19
  • Is quantum computing a threat to BTC?
  • Several hurdles expected to improve by year end; still risk-off for BTC

Center Story

1. Bakkt futures just needed a little time... options launch coming next

Bakkt futures daily trading volume has taken off. Was media too quick to judge? Wouldn't be first time.

The video in this report is only accessible to members

Variations of "Bakkt futures volume has been disappointing" have been a common refrain since Bakkt's launch at the end of September. But, contract volume rocketed to 640 contracts (~$5mm) on Wednesday. Sustained volume growth will be a sign that price discovery mechanisms in crypto are improving.

One of the key benefits from Bakkt's contract design outlined by Bakkt's CEO, Kelly Loefller, is that prices do not rely on spot trade data:
It is widely reported that the vast majority of trading volume – greater than 90% – is impacted by manipulation, wash trades and other fraudulent activity. This means that for the first time, a benchmark futures price for bitcoin is being set without referencing the unregulated spot market.

Bakkt announced it will be launching the first regulation options contract for BTC futures on 12/9/19. Contract features below...

Capital efficien...

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