The market took a real beating last week, with DeFi outflows accelerating and the contango delta narrowing sharply for Bitcoin and Ethereum. The amount of ETH locked in the Maker DAO credit ecosystem has stabilized around 1.3% but the pressure on ETH was such that the so-called bite function on the Maker ecosystem, where users liquidate vulnerable CDPs, reached a 3-month high on Friday. However, since then the market has rallied, as short positions have gotten squeezed following the big announcement that the much-awaited platform by Bakkt was finally given the green light by regulators. The long-awaited Bitcoin futures and warehouse products for institutional clients will be launched on September 23. However, some of their largest prospective clients still dont have permission to trade physically-delivered futures contracts.