Since the announcement about Huobi DM launch at the Cryptofrontiers conference in New York City, it appears that the platform has no struggle in trading volume 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.
Livio Weng, CEO of Huobi Global expressed:
“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,”
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.
The data available on feixiaohao.com shows that 47.20% of trades include Bitcoin (BTC), 41.91% – Ethereum (ETH), and 10.90% – 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;
More information about Huobi’s Crypto Derivatives Platform you can find in our previous article where we introduced Huobi DM.