Daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market has broken past $1 billion, according to a press release shared with Cointelegraph on Dec. 27.
Huobi Global - which operates the world's third-largest largest crypto spot market trading platform - launched Huobi DM last month.
The new platform allows traders to trade Bitcoin and Ethereum contracts that aim to allow for arbitrage, speculation, and hedging.
Having reportedly broken past $1 billion in daily trades on Dec. 25, Huobi DM is today expanding its crypto contracts offerings to include altcoin EOS. Huobi claims its crypto contracts help market participants control risk and uncertainty via price limit mechanisms and supervision tools that allow traders to monitor contract and index prices and positions in real time.
Livio Weng, Huobi Global CEO, has emphasized that the offerings aim to engage those who wish to control risks in a volatile trading climate.
According to the company, Dec. 25 saw strong engagement on both the newly-launched DM platform and Huobi's flagship crypto exchange; their combined daily traded volume was purportedly $2 billion.
Huobi DM's launch comes at a moment when trading volumes across various exchanges are reported to have fallen dramatically.
A recent study from weekly crypto outlet Diar claimed that data sampled from across eight leading crypto exchanges - Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex and HitBTC - showed that 60 percent of the still-listed cryptocurrencies are now trading at lower volumes than in January.
Controversies continue to beset the accuracy of reported daily traded volumes.
This summer, CoinMarketCap implemented major changes to its crypto exchange listings method in light of concerns over skewed trade volume data.
Daily Traded Volume on Huobi's Crypto Derivatives Platform Breaks $1 Billion
에 게시 됨 Dec 28, 2018
by Cointele | 에 게시 됨 Coinage
Coinage
이 기사에서 언급
최근 뉴스
모두보기
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.