Company officials credit built up demand for high quality, sophisticated trading tools in the crypto space.
Fueled by strong market demand for powerful tools to manage volatility and risk in the cryptocurrency market, Huobi DM, Huobi Group’s sophisticated cryptocurrency contract trading service, saw cumulative trading volume exceed USD $12 billion in its first full month of operation.
“We’re incredibly happy with rapid growth in December and we think it illustrates the strong desire that is out there from institutional traders and professional traders,” said Livio Weng, CEO of Huobi Global. “The time has come for tools to manage the risk and volatility of cryptocurrency – particularly during bear markets, like the one we find ourselves in now.”
Huobi DM’s cryptocurrency contract trading service allows users the ability to take long and short positions on Bitcoin (BTC), Ethereum (ETH), and EOS (EOS), providing options for arbitrage, speculation, and hedging that were not previously widely available in crypto trading.
A timeline of Huobi DM’s growth:
- November 21: launches in beta mode with BTC contract trading
- December 5: launches ETH contract trading
- December 10: official launches and is integrated with flagship cryptocurrency exchange. Daily trading volume reached USD $195 million for the first time
- December 28: launches EOS contract trading
- December 31: official first month cumulative trading volume reaches USD $12 billion
It will continue to enhance over the course of 2019, adding additional contract types and enhancing the platform’s features.
Disclaimers: Digital assets are innovative trading products, and prices fluctuate greatly. Please rationally judge your investment ability and make decisions prudently. Please note that users must clear the requisite KYC checks and assessments prior to commencing usage of Huobi DM. Huobi DM is not available to users from the United States of America, Singapore, Israel, Iraq, Hong Kong (China), Cuba, Iran, North Korea, Sudan, Malaysia, Syria, Samoa Eastern, Puerto Rico, Guam, Bangladesh, Ecuador, and Kyrgyzstan.
About Huobi Group:
Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Established in 2013, Company Group’s accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries.