Huobi Derivatives Market to Add EOS Contracts as Trading Volume Grows

Singapore-based cryptocurrency exchange Huobi is closing out 2018 with an addition to its offerings on the Huobi Derivatives Market--EOS contracts.

According to a recent announcement by the exchange, EOS will be adding Huobi DM on December 28. The addition comes roughly one month after the launch of Huobi DM, which was announced at the Crypotfrontiers conference in New York City on November 28. At the time, Huobi CEO Livio Weng said that “Sophisticated traders are increasingly looking for a broader range of tools. Integrating Huobi DM with Huobi Global allows us to better serve those user’s needs by offering them our full range of trading services in one convenient place.”

Huobi DM, our #cryptocurrency contract trading service, will add #EOS (EOS) on Friday. Users will be to place both long and short positions on EOS, allowing for #arbitrage , #speculation, and #hedging. For more information visit: https://t.co/U52F5PLyOZ pic.twitter.com/aMbReAvoa9

— Huobi Global (@HuobiGlobal) December 26, 2018

The news of the addition of EOS to Huobi DM came paired with the announcement that Huobi DM’s trading volume had surpassed $1 billion on Tuesday, December 25th. Combined with the trading volume on Huobi Global, over $2 billion in trades were processed that day.

Currently, Huobi DM supports Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum contracts that provide options for “arbitrage, speculation, and hedging.” At the time of writing, Huobi sat as the world’s third-largest cryptocurrency exchange by volume.

An Eventful Year for EOS

The addition of EOS onto Huobi DM is expected to have a positive effect on EOS’ valuation, which currently sits at roughly $2.32 with a total market capitalization of $2.1 billion.

The addition also marks the close of an eventful year for EOS. The coin migrated away from the Ethereum network and onto its own mainnet in June, and managed to surpass Bitcoin Cash as the fourth-largest cryptocurrency in the world in terms of market cap in November (it has since fallen to the position of sixth-largest.) Its ICO, which finished earlier this year, is regarded as the largest in history.

Despite its rise as one of the top-ten Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in terms of market cap, EOS has not gone without its share of criticism. The EOS network’s Delegated Proof of Stake algorithm has caused many in the cryptocurrency community to accuse the network of being too centralized. Additionally, Chinese cybersecurity firm Qihoo 360 published a report detailing how vulnerabilities in the EOS code could be exploited by hackers in early June. EOS responded to the report quickly by checking and repairing the vulnerabilities.