Huobi Exchange’s Derivatives Market Adds EOS Cryptocurrency Support Starting Immediately
Huobi’s Derivatives Market Includes EOS Starting Now
The third largest crypto company in the world, Huobi, has now announced that its derivative market will start to support EOS. The information was originally released via an official press release. At the moment, Huobi has a volume of over $500 million USD daily and it is the third largest company in its niche.
Now, traders can take both short and long positions using the EOS tokens. Huobi took this decision as a way to address the demands of the clients, which wanted more markets to invest in and EOS is a good asset.
The information is that the contracts will support price, position and order limits of up to 20 times leverage. The fees, the report indicates, will be only 0.02% for makers and then 0.03% for takers. Fees have to be paid when the investors open and close their positions.
Users will be able to use contracts to purchase and sell EOS at predetermined prices in the future, which lets they bet on the market and benefit (or lose) from the trends.
Huobi’s official announcement of this market happened at Cryptofrontiers, a crypto conference that happened in New York last month. At the time, it was affirmed that the markets would be available until the end of the year.
At the moment, EOS is trading around $2.35 USD on a little downtrend, which follows the whole market as it loses value after a short bull run led by Bitcoin this week.
Other Companies Plan Derivatives
Other major companies like OKEx, the second largest crypto exchange in the world now, have also launched their new derivatives products. The newest one in OKEx is the Perpetual Swap, which is a virtual derivative that was created to let the users bet on the future of the Bitcoin price. The swaps do not have expiration dates and can be held forever, though.
The second largest stock exchange in the world, NASDAQ, has also plans to release Bitcoin derivatives. This, however, will only happen in 2019.