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Bakkt Sheds More Than 6% on First Day of Public Trading

Last update 19.10.2021 11:01

The price of BKKT contracted by more than 6% during its first day of public trade.

Bakkt Sheds More Than 6% on First Day of Public Trading

Bakkt ($BKKT), an institutional and retail-facing digital asset platform founded by Intercontinental Exchange, has suffered a drawdown of -6.4% after closing a volatile first day of trading as a publicly listed company.

After launching on the New York Stock Exchange (NYSE) at $9.45 on the morning of Oct. 18, BKKT rose by roughly 3.3% up to $9.77 during its first 30 minutes of trading. However, traders quickly moved to take profits, causing prices to slump by -9.5% down to $8.84 followed by lunchtime.

According to Bloomberg, BKKT was trading at $8.76 by the day’s close after having shed almost -7% from its opening.

Bakkt went public via a merger deal with a special purpose acquisition company (SPAC), VPC Impact Acquisition Holdings on Oct. 15.

Bakkt initially launched in 2018 as a cryptocurrency custodian. The firm has since pivoted to launch institutional-facing bitcoin futures contracts and a retail crypto asset payments app.

 

Source: cointelegraph.com

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Coin Change(%) Price Volume (24h)
Bitcoin (BTC) 3.71 $72,084.86 $45.5B
Ethereum (ETH) 3.43 $4,038.91 $20.8B
XRP (XRP) 18.52 $0.727106 $4.4B
Solana (SOL) 1.58 $147.242060 $3.8B
Binance Coin (BNB) -2.22 $519.52 $3.0B
USD Coin (USDC) 0.03 $0.999697 $2.4B
Dogecoin (DOGE) 0.96 $0.174374 $2.1B
Shiba Inu (SHIB) -2.92 $0.000033 $1.7B
Floki Inu (FLOKI) -7.67 $0.000267 $1.3B
Avalanche (AVAX) 13.16 $47.596296 $1.2B
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