Launched in November, Huobi’s crypto derivatives market is growing at a rapid pace. Fifteen days ago they revealed they had hit $10 billion in total volume, and today they announced they’ve seen $20 billion. In a note provided first to CCN.com, Huobi describes the timeline of the Derivatives Market in this way:
HBDM.com currently offers derivatives on three major cryptocurrencies: Bitcoin, Ethereum, and EOS. Each has weekly, bi-weekly, and monthly markets. It works like any other derivatives market, except the assets are based on cryptocurrency rather than traditional commodities. According to the trading guide, positions can be closed before they’re filled, similar to other markets.
Huobi Global CEO Livio Weng said:
This reinforces our belief that Huobi DM truly caters to our user’s needs. We’ve been getting positive feedback from our clients on our lack of clawbacks as well as Huobi DM’s capacity to help sophisticated traders manage the risk of spot market fluctuations. I believe this explains our platform’s exploding growth, even in the midst of the ongoing bear market.
The positive response will likely lead to the addition of other markets. As a whole, Huobi is one of the largest crypto exchanges in the world by volume. At the time of writing, Huobi had done over $290 million over the 24-hour period.
All of these metrics come amid an overall down cryptocurrency market. Huobi’s US partner, HBUS, recently took over Huobi.com as part of its strategic marketing push. Huobi volume is representative of its trading pairs. Despite desktop clients and innovative trading platforms, those who capture the most of the crypto market are those with the most listings. This is fundamental to the success of Binance.
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Last modified: August 2, 2020 11:04 AM UTC