Huobi DM Reaches Trading Volume of $12 Billion in December

Huobi Derivative Market (Huobi DM), the digital asset derivative Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term of Huobi, the third largest cryptocurrency exchange in the world, announced this Friday that its cumulative trading volume for its first full month of operation surpassed $12 billion.

Huobi DM allows institutional and professional investors to trade cryptocurrency contracts. The service first launched in beta mode with Bitcoin (BTC) contract trading on November 21, 2018, making December of 2018 the platform’s first full trading month.

Since its initial launch, the platform has added further 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, allowing investors to take positions on Ethereum (ETH) and, as Finance Magnates recently reported, EOS, with the latter contract offering leverage up to 20x.

Huobi DM Shows Strength Amongst Strained Crypto Market

Huobi DM's trading volumes come at a time when the crypto space is going through a bear market, which weighed heavily on the market during 2018. However, despite this, interest from institutional investors grew, as is evident with Huobi DM.

Adding to this, on December 10, 2018, less than one month since its beta launch, Huobi DM achieved a daily trading volume of $195 million worth of cryptocurrency contracts for the first time. Then on December 27, the platform reported that it achieved a daily trading volume past $1 billion.

Commenting on the announcement, Livio Weng, the Chief Executive Officer of Huobi Global said: "We're incredibly happy with Huobi DM's rapid growth in December and we think it illustrates the strong desire that is out there from institutional traders and professional traders."

"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."

According to the statement released this Friday, the group will continue to improve Huobi DM throughout 2019. Specifically, Huobi plans to add extra contract types and enhance the platform’s features.