The Huobi Crypto Derivatives market passed $21 Billion in tradesBTC Casino / 22nd January 2019
Huobi’s Crypto Derivatives market was launched back in November of 2018. No one could have predicted the incredible growth and potential of Huobi’s Derivatives market. In early January, Huobi announced that it had managed to hit the $10 billion mark in total volume. Two weeks later, the next announcement revealed that the $20 billion mark has been reached in no time as well.
The growth of $10 billion in a little over two weeks is going over the scope for every single prediction out there. In order to realize exactly how crazy this all is, let’s look at a timetable of Huobi’s market activity.
The Huobi Crypto Derivatives market is doing great
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Huobi Derivatives Market was launched in beta with Bitcoin (BTC) contract trading in November 21st
Ethereum (ETH) contract trading was launched on December 5th
5 days later, on December 10th, Huobi’s Derivatives Market exits beta and is integrated with Huobi Global. Trading volume manages to reach $195 million for the first time
15 days later, on Christmas eve the 24-hour trading volume surpasses $1 billion for the first time
3 days later, on December 28th, EOS contract trading became available. The trading volume jumps up to $10 billion
December 31st, Huobi Derivatives Market’s first-month cumulative trading volume reaches $12 billion
On January 12th, Huobi Derivatives Market total cumulative trading volume breaks the $20 billion checkpoint.
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Saying this growth is impressive is dwarfing the success of Huobi. At the moment, Huobi offers derivatives on 3 major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH) and EOS. Every currency has weekly, bi-weekly and monthly markets. Everything works the same way as any other derivatives markets, with the only difference being assets are based on crypto instead of traditional commodities. The trading guide states that positions can be closed before they’re filled, just like in other markets.
When asked about the incredible growth, the company’s CEO Livio Weng stated:
“This is proof that Huobi Derivatives Market is accurately responding to our client’s needs. We are receiving very positive feedback from clients on our lack of clawbacks and HBDM’s capacity to help advanced traders to manage the risk of spot market fluctuations. In my humble opinion those are the biggest reasons for our record growth, even in the middle of the prolonged bear market.”
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