People who want to cheat on Bakkt will be really disappointed
Editor's Note: This article comes fromDeep Chain Finance (ID: deepchainvip), Author: Out of Shu, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Deep Chain Finance (ID: deepchainvip)
Deep Chain Finance (ID: deepchainvip)
, Author: Out of Shu, reproduced by Odaily with authorization.
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"Rubbing Bakkt hotspots to set up a scam"
Where there are hot spots, there will be scams.
On September 23, looking forward to the stars and looking forward to the moon, Bakkt, which is regarded as the most profitable bitcoin in the year, was officially launched. Along with the launch of Bakkt, there are also scams.
After Bakkt just released an announcement announcing the official launch of the first transaction, some Twitter netizens broke the news that someone was using the name of Bakkt to commit fraud.
It is understandable, after all, in the current bleak cryptocurrency market, the entry of the regular army Bakkt is the biggest hot spot and focus.
Deep Chain Finance found that the fraudsters used the Medium account and the Twitter account to "double-pronged" to pretend to be the official Bakkt account. Taking advantage of the hot spot and good news of Bakkt's landing, they released the fraudulent news of giving away 5,000 BTC and 10,000 ETH for free.
In fact, this kind of fraudulent behavior had already appeared before Bakkt Bitcoin futures trading was officially launched, and Bakkt officials have long been aware of this. On September 19, Bakkt officially announced that @Bakkt is our only official Twitter.
I hope users pay attention to safety and beware of fraud! Bakkt will never use social media to request sensitive information, or release deposit wallet addresses for giving away bitcoin or any other cryptocurrency.
For the scammers who carefully set up the scam, the purpose is to harvest a group of people who don’t know the truth through the sensational effect of Bakkt’s official launch, but in fact, the script does not go in the direction expected by the scammers.
Because Bakkt did not attract institutional investors to enter the market as everyone expected, setting off a wave and bringing Bitcoin up, Bitcoin still maintained its sluggish trend.
For scammers who want to scam by rubbing Bakkt's hotspots, they may be disappointed.
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"Bakkt's "Pot of Cold Water""
After all, contrary to market expectations, the fiery trading scene did not appear on Bakkt.
At around 8:00 pm EST on September 23, Bakkt will open for trading. Two minutes after the opening of the transaction, the first contract was traded at a price of $10,115. And 2 hours later, the trading volume is still in single digits.
Regarding such a deserted and bleak trading situation, some investors said that the American people are still sleeping at this point in time, and the truly reasonable data will not be seen until 24 hours later.
However, even after waiting 24 hours, the situation has not improved.
According to the deep chain financial statistics, only 73 bitcoins were traded in the 29 hours after the opening, and the total turnover was less than 730,000 US dollars.
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Bakkt traded in the past 29 hours
CME’s bitcoin futures saw $460 million in volume in the first week, with an average daily volume of $65 million.
In comparison, Bakkt's single-day turnover is less than a fraction of that of CME Group.
In addition to the bleak transaction data, the media also found that Bakkt Bitcoin hosting service Bakkt Warehouse opened its storage business on September 6, and it is still unclear how many Bitcoins it hosts.
In addition, Bakkt has not disclosed any addresses of its custodian wallets so far, and a company spokesperson did not respond to related questions.
All in all, the much-anticipated Bakkt was a big disappointment and a big surprise, just as the old saying goes, as much hope, so much disappointment.
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"The biggest benefit of 2019"
Since its inception, Bakkt's every move has affected the market. Its smooth landing is regarded by everyone as the biggest advantage of the currency circle in 2019.
We all know that cryptocurrency exchanges are at the top of the food chain in the cryptocurrency industry. Futures contracts are a type of financial derivatives. The gameplay is simple and easy to use, so it has the widest audience.
Among all cryptocurrency exchanges, cryptocurrency futures contract exchanges are more special because they can expand leverage and have a greater impact on the market.
In addition to Bakkt, the "recognized" benefit of Bitcoin fans is the halving of output in May 2020.
The emergence of Bakkt is to increase market demand, while the halving of production is to reduce market supply. Therefore, the importance of Bakkt is self-evident.
Bakkt is not without competitors, but few of its competitors have received the title of "the biggest gain in 2019" like Bakkt.
Therefore, there is an essential difference between CME and Bakkt.
In the field of cryptocurrencies, only ErisX, LedgerX, and Seed CX are exchanges that feature compliance and physical delivery and can compete with Bakkt in terms of shareholder strength, regulatory licenses and other hard power.
However, these three exchanges cannot compare with Bakkt in terms of publicity strategy and project promotion.
Bakkt poached Adam White, vice president of Coinbase, one of the largest bitcoin spot exchanges in the United States, as chief operating officer, and invited Rich Mackey, vice president of independent futures broker Rosenthal Collins Group (RCG).
These are what other futures exchanges lack. Of course, this is one of the reasons why Bakkt is so valued.
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"Let Bakkt fly a little longer?"
The "biggest benefit" in 2019 encountered such an embarrassing transaction dilemma, which made many people shout that this is a hype that lasted for a year.
Crypto analyst Alex Krüger launched an investigation on Twitter, "CME Bitcoin futures traded $460M in first week, currently trading around $700M. VanEck's 'fake' ETF trades in first week $0. How much volume Bakkt will attract is the key variable for the week ahead. Do you think Bakkt will fail or launch successfully?"
Up to now, a total of 1083 netizens participated in the voting, 51% thought it was a "complete failure", and 49% thought it was a "successful launch", basically evenly matched.
Regarding the low trading volume of Bakkt, Yemao said that the reason for the low trading volume of Bakkt is that the broker (Broker) is inefficient and the account opening speed is slow, and most people cannot participate in the transaction in a short period of time. CNN Financial Analyst Joseph Young also said that as brokers get ready, they will be able to see more volume.
Mati Greenspan, senior market analyst at eToro, said that Bakkt is like an eight-lane highway, and the traffic flow on the day of launch is not enough to judge the quality of this road. MultiVAC CEO Frank also believes that Bakkt's long-term influence cannot be denied because of the small transaction volume, and the bullets should fly for a while.
Whether Bakkt can succeed depends on the subsequent trading volume, but the market seems to think that Bakkt has exhausted all its benefits. On September 23, Bitcoin fell by 3.32%, reaching a minimum of $9,609. This data also proves this from the side.
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