Crypto markets raise up in the wake of Bakkt´s launch

20 Jul, 2019
by Alberto Arnaldo
Crypto markets raise up in the wake of Bakkt´s launch

Only two days before the much-anticipated launch of Bakkt, Bitcoin prices are trending upwards. Plenty of community members are linking both events.

The custodial and trading platform, backed by the well-known trading services provider firm Intercontinental Exchange, will see its trials start on the 22nd of July, and that appears to be translating in moderate gains for most cryptocurrencies along the first hours of the weekend. 

Meanwhile Bitcoin has raised over $10,700 lately, most tokens on the top 10 are experiencing similar gains. The exception appears to be the polemic Craig Wright-led project BSV, which raising more than 20% at writing time.

Bakkt´s COO Adam White announced the beginning of operations about a week ago via a blog post:

“This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.”

Institutional customers are the main sector which is expected to profit from the launch and further development of Bakkt, given that the services that the firm will offer are poised to cover a demand for more accountable storage solutions, needed to onboard certain sectors of the traditional finance system.

Over the last hours, Twitter has kept tabs on the situation, with a mostly bullish sentiment accompanying the upwards price trend:

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