News The Cryptosphere Is About To Change: Bakkt’s Successful Launch...

The Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto Market

-

- Advertisment -

The Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto Market

The idea of Bakkt has been making waves back in 2018 and now everyone’s expecting its launch like the whole grail.

But how could a successful launch of Bakkt impact the crypto space? When and if it eventually launches, this Bitcoin exchange platform can impact the whole crypto market.

Bakkt’s ambitions are high

This would be the host of the very first Bitcoin-settled futures contract in the world.

Bakkt is aiming to create a more than liquid, well-policed US regulatory-approved market to trade BTC.

It will also focus on offering a scalable system for consumers, businesses, and merchants to use BTC in order to process the most efficient global commerce pricewise.

Bakkt is reportedly not the only player that’s aiming to achieve all this. There are also other exchanges that are trying to launch physically delivered crypto futures, and CoinFLEX is one of them.

Bakkt could change the crypto world

A study conducted by the Bank for International Settlements (BIS) revealed that all the announcements of general bans on crypto and restrictions that place them under the securities law triggered the worst effects on prices.

On the other hand, they also revealed that positive announcements on legal frameworks for cryptos and ICOs have positive effects and lead to market gains.

This is exactly what Bakkt is aiming at: it’s applying to the U.S. Commodity and Futures Trading Commission (CFTC) instead of the SEC for approval of its platform.

The Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto Market

The platform is scheduled to launch on January 24th and it’s expected to trigger a boost in the cryptos’ prices or at least, more support.

The outlook seems increasingly promising. According to The Wall Street Journal, Bakkt”is expected to soon get regulatory approval.”

Let’s not forget that back in March 2017, the rejection of a Winklevoss proposal to alter stock exchange rules to allow a BTC ETF triggered BTC to drop 16% in 5 minutes.

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

How to double your crypto

Most of us have a small gambler deep inside our souls. We love to feel the thrill...
- Advertisement -The Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto Market

Cryptocurrency Top Security Risk Concerns: What You Can Do to Protect Your Crypto

A report by CipherTrace revealed that in the first half of 2019, criminals and fraudsters stole more...

How has Bitcoin of America Changed the Cryptocurrency Industry?

Who is Bitcoin of America? Bitcoin of America is a U.S. based digital currency...

Must read

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when...
- Advertisement -The Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto MarketThe Cryptosphere Is About To Change: Bakkt’s Successful Launch Could Boost Prices In The Crypto Market

You might also likeRELATED
Recommended to you