Huobi says it will soon set up Bitcoin options trading product, which will offer 0.001 BTC buy-in before the end of this quarter.
The company has improved its derivatives offerings this year. Earlier in the year, it announced the options providing for both the options and futures products.
In the previous quarter, Huobi released its perceptual swap product and established its bi-quarterly Bitcoin operatives the previous month. This proves that the company is gearing up to expand its product offerings to face fierce competition in the industry.
The new proposal will strengthen derivatives option
Based on the data received from the report, the new proposal will strengthen the company’s derivatives option, which is very relevant in the industry.
Ciara Sun, vice president of o Global Market, pointed out that market forces are the reasons why Bitcoin has received strong backing. She further said the entry of Huobi Futures is the main attraction in many ways, especially in areas related to trading volume. Furthermore, within a few spaces of time, the firm has received the highest rank in perpetual swaps. And when it comes to capacity, it is presently the leader in the industry.
Since the introduction of its derivatives platform, Huobi has been restructuring its business products. It introduced the platform in 2018, as it was popularly called Huobi DM. Since then, the company has gone on to consolidate its resolve to become the leader in the industry.
Based on the report by CoinMetrics, Huobi’s byproducts firm TokenInsight had $438 billion worth of trades last year.
In a related development, Huobi has reached the highest rank for offshoot interchange dimensions for three months (March, April, and May). As it stands, experts believe the exchange has overthrown other competitors such as OKEx and Binance in this area. But there are some diversities in Bitcoin options and Bitcoin futures, even though they are alike.
An investor who buys Bitcoin options will not have the opportunity of buying the same in the future. But when buying Bitcoin Futures by contract, the investor is indebted to it naturally.
Increasing demand for crypto derivatives
Although it’s a good move for Huobi to introduce this instrument as the market demand is skyrocketing, the company will be facing fierce competition from other top platforms like CME group, Deririt, as well as Binance. While Deribit holds 80% of the market, CME Group reported last month that its Bitcoin options demand increased by ten folds.