SINGAPORE, Dec. 27, 2018 /PRNewswire/ –In the month since it launched its cryptocurrency contract trading service, Huobi Derivative Market (Huobi DM) has seen a rapid increase in trading volume and an explosion in engagement that recently drove daily trading volume past USD $1 billion.
“This just goes to show the market demand for more sophisticated crypto trading tools, particularly those that allow traders to control risks in volatile markets,” said Livio Weng, Huobi Global CEO. “Huobi DM is a priority for us and we will continue to enhance it over the coming months.”
Huobi DM’s trading volume reached past USD $1 billion on Tuesday, December 25, a day that was also a strong one for Huobi Global, Huobi’s flagship exchange platform. All told, trading volume for Huobi DM and Huobi Global combined came up to an impressive USD $2 billion that day.
Huobi DM’s cryptocurrency contract trading feature allows users the ability to buy or sell Bitcoin (BTC) and Ethereum (ETH) at predetermined prices at specified times in the future, providing options for arbitrage, speculation, and hedging that were not previously widely available in crypto trading. To expand Huobi DM’s utility even further, company officials plan to expand contract trading to cover to a broader range of cryptocurrencies, with EOS (EOS) contracts scheduled to go live on Friday.