Despite the ongoing bear market, Huobi’s crypto asset trading service, Huobi Derivative Market (Huobi DM), recently saw its trading volume soar past USD $20 billion. The milestone came a mere 15 days after Huobi DM racked up its first USD $10 billion in trading volume in its first full month of operation. Based on the Huobi DM team’s internal customer research, many users are particularly drawn to the fact that the platform’s robust design and features have resulted in zero clawbacks so far.
“We’re pleased with the strong response. This reinforces our belief that Huobi DM truly caters to our user’s needs. We’ve been getting positive feedback from our clients on our lack of clawbacks as well as Huobi DM’s capacity to help sophisticated traders manage the risk of spot market fluctuations. I believe this explains our platform’s explosive growth, even in the midst of the ongoing bear market,” said Livio Weng, CEO of Huobi Global.
Huobi DM’s crypto asset 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. While similar services exist elsewhere, Huobi DM sets itself apart via a number of design features and policies, including:
- Superior risk management: including Price Limit, Order Limit, and Position Limit
- Superior risk control: with a sophisticated price limit mechanism, no claw back has occurred since its launch
- Real-time risk supervision: constantly monitor contract prices, index prices, abnormal transactions, and positions
- User protections: In addition to a 20,000 BTC Huobi Security Fund to protect users against catastrophic security failures, Huobi also has a dedicated Risk Management Insurance Fund for each trading pair against unfilled liquidation order losses. Funding for the insurance funds recently increased to 68.5 BTC, 689.9 ETH, 41,387.6 EOS
A timeline of Huobi DM’s growth:
- November 21: Huobi DM launches in beta mode with BTC contract trading
- December 5: Huobi DM launches ETH contract trading
- December 10: Huobi DM exits beta mode and is integrated with Huobi Global, Huobi’s flagship cryptocurrency exchange. Huobi DM’s daily trading volume reaches USD $195 million for the first time
- December 25: Huobi DM’s 24-hour trading volume breaks through USD $1 billion for the first time
- December 28: Huobi DM launches EOS contract trading and reaches USD $10 billion in cumulative trading volume
- December 31: Huobi DM’s first month cumulative trading volume reaches USD $12 billion
- January 12: Huobi DM’s total cumulative trading volume breaks through USD $20 billion
Disclaimers: Digital assets are innovative trading products, and prices fluctuate greatly. Please rationally judge your trading 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.
For more information on Huobi DM, please visit www.hbdm.com
About Huobi Group:
Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Established in 2013, Huobi 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. For more info, please visit www.hbg.com
*This post is credited to PRNewsWire