In Less Than 2 Months Huobi’s Crypto Derivatives Market Crosses The $20 Billion Mark in Trades
Huobi’s crypto derivatives market is experiencing rapid growth in terms of trade volumes. Launched on November 21, the firm reports crossed the $ 20 million mark in less than two months.
Huobi describes the timeline of their Derivatives Market to CCN as following:
- On November 21 – The Huobi DM launched its beta mode with BTC contract trading
- On December 5 – The ETH contract trading was launched on Huobi DM
- On December 10 – The platform exited their beta mode and gets integrated with Huobi Global, Huobi’s flagship cryptocurrency exchange. For the first time, Huobi DM’s daily trading volume reaches $195 million
- On December 25 – The 24-hour trading volume for Huobi DM breaks through $1 billion for the first time
- On December 28 – EOS contract trading added and the cumulative trading volume reaches $10 billion
- On December 31 – The first-month cumulative trading volume of Huobi DM reaches $12 billion
- On January 12 – The total cumulative trading volume of Huobi DM crosses the $20 billion mark
About Huobi DM
Currently, HBDM.com offers derivatives on three major cryptocurrencies: Bitcoin, Ethereum, and EOS. Each one has weekly, bi-weekly, and monthly markets. Similar to any other derivatives market, only instead of traditional commodities, the assets are based on cryptocurrency. In fact, the trading guide further explains that the 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.
Huobi is one of the largest crypto exchanges in the world by volume. This positive response will most likely lead to the addition of other markets. Notably, these metrics have evolved during a so-called crypto winter.
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