Bitcoin falls following lackluster launch of futures contract; Litecoin slumps


Bitcoin and other major cryptocurrency prices fell on Tuesday in Asia following a lackluster launch of Bitcoin futures contracts.

Bitcoin lost 2.6% to $9,733.7 by 1:20 AM ET (05:20 GMT).

The crypto king climbed higher earlier in the day following the official launch of Bakkt’s much anticipated physically settled Bitcoin futures.

However, while some say the launch represented a “significant milestone” for the digital coin industry, it did not receive as much attention as previously expected, and its Bitcoin trading volume was quite low compared to most major cryptocurrency exchanges.

Other major cryptocurrency prices also traded mostly in the red today.

Litecoin continued its downward trend and plunged 8.1%. It slumped more than 10% on Monday, the largest one-day percentage loss since early July.

Ethereum fell 4.1% to $201.25. XRP was down 1.6% to $0.27017.

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