Kraken Futures Trading Nears $1 Billion in First Month

Cryptocurrency

Crypto is nowhere close to being dead. Kraken’s newly acquired Crypto Facilities has seen around $1 billion traded in crypto futures already in February, according to an article released today by CoinDesk. Sui Chung, Crypto Facilities’ head of pricing products and indices, told CoinDesk that futures trades have grown more than 500% since Kraken acquired the futures exchange.

Kraken Acquires Crypto Facilities

On February 4th, US-based cryptocurrency exchange Kraken announced the acquisition of Crypto Facilities. At the time, the cryptocurrency exchange didn’t release the exact figures for the transaction and just called it a ‘nine-figure’ deal. Later, it was released that Kraken bought the index trading platform for $100 million. Crypto Facilities provides Bitcoin (BTC) and Ether (ETH) reference rates to the CME Group—one of the first groups to list Bitcoin Futures contracts in the US.

Since the acquisition, it seems that Crypto Facilities traffic has increased four times. Chung told CoinDesk that the company’s daily users have “gone up by a factor of four” and the traffic growth has been seen across all its platforms.

You Might Like