The platform of cryptocurrency derivatives Huobi Derivative Market (Huobi DM) is gaining momentum – the total trading volume reached $ 20 billion.
The platform offers derivatives for three cryptocurrencies: Bitcoin, Ethereum and EOS. Each instrument has weekly, fortnightly and monthly markets. It works like any other derivative market, except that the assets are based on cryptocurrency, and not on traditional products. According to the trade guide, positions can be closed before contract execution, as in other markets.
“We receive positive feedback from our customers. According to them, Huobi DM meets the requirements of sophisticated traders in managing the risk of fluctuations in the spot market, ”said Huobi Global CEO Livio Weng. “I think this explains the popularity of the platform even in the context of an ongoing bear market.”
Huobi is the fourth largest exchange in terms of daily trading volume. In the last 24 hours alone, the turnover exceeded $ 290 million.