Crypto Derivatives Market from Huobi Surpasses $20 Billion in Trade Volumes
The crypto derivatives market from Huobi, which was launched in November 2018 has been expanding at a very hasty pace. Two weeks ago, the company announced that it had already hit the 10-billion-dollar mark in total trading volume. Less than twenty-four hours ago, the company released a press statement indicating that it had reached the 20-billion-dollar mark.
Huobi sent out a note to CCN, in which they provided a complete breakdown of the timeline followed by the Derivatives Market:
- Huobi DM was launched in beta mode on November 21 by way of Bitcoin contract trading
- On December 5, the platform introduced Ethereum contract trading
- Huobi Derivatives Market exited beta mode on December 10 and was officially integrated into Huobi Global. This was the company’s flagship crypto exchange platform. On the same day, the company also managed to record a total trade volume of $195 million
- The Derivatives Market twenty-four-hour trading volume broke the one-billion-dollar mark on December 25, for its very first time.
- EOS contract trading was integrated into the platform on December 28. This was also the same day that the platform recorded a cumulative trading volume of ten billion dollars.
- The Derivatives Market reached its first twelve-billion-dollar mark in a cumulative month of trading on December 31.
- The platform breaks the twenty-billion-dollar mark of cumulative trading volume on January 12.
Crypto Industry Futures Trading
HBDM.com is at the moment providing derivatives on three of the leading cryptocurrencies in the crypto universe, namely: EOS, Ethereum, and Bitcoin. Each cryptocurrency has been provided with a weekly, bi-weekly as well as monthly trading market.
The Derivatives Market functions in the same manner as all the other markets with the only exception being that the trading assets being used are all cryptocurrency-based as opposed to using the traditional commodities. The trading guide indicates that it is possible for a trader to close out the positions even before they have been duly filled.
This means that it operates in the same manner as all the other markets. Livio Weng, the Huobi Global CEO said that allowing the Derivatives Markets to trade in this manner allows the company to reinforce its primary beliefs that the platform is truly capable of catering to all the needs of their users.
Livio went on to add that the company has been receiving a lot of positive feedback from all their clients. The feedback has mainly been focused on the market’s capacity to assist professional traders to manage the fluctuations that are associated with their spot markets. Weng believes that this is the sole reason why the platform has been able to grow at such a fast pace, despite the fact that there is an ongoing bear market.
These positive responses will probably lead to new markets being added on to the platform. When you look at the trading volume, you will easily notice that Huobi currently happens to be one of the leading global exchanges. By press time, the platform has managed to complete more than two hundred and ninety million dollars in trading volume within a span of twenty-four hours.