Huobi’s Derivative Market Now Supports Altcoin EOS

By Kapil Gauhar

The third-largest cryptocurrency exchange Huobi’s derivative market now includes alternative cryptocurrency coin EOS, as indicated by a press release on December 28th.

Huobi is, at present, the third-ranked cryptocurrency exchange by adjusted volume on CoinMarketCap, with across $505 million in 24 hour volume at the present time.

Traders will purportedly be able to take both long as well as short positions on EOS. The decision for creating the derivative contract is part of the Huobi’s “ongoing efforts to address customer demand.”

As indicated in the press release, the contract will include order limit, price limit as well as position limit orders at up to 20x leverage. The trading fees of EOS derivative on the Huobi Derivative Market will be 0.02% for the makers and 0.03% for the takers to both open as well as close their positions.

At the press time, the alternative cryptocurrency coin EOS is trading at nearly $2.35, which is down a little more than 7% on the day.

Huobi declared the launch of its derivative market at the conference of CryptoFrontiers held a month ago in New York. Contract trading allows the platform’s users to buy and sell the virtual currencies at the predetermined prices at specified times in the near future, offering investors the opportunity to acquire from both upward as well as downward market trends.

A major Malta-based cryptocurrency exchange, OKEx has recently launched its new derivative, according to a recent report by Cointelegraph.

Perpetual Swap is a new product, which is virtual derivative that allows its users to bid on the future value of Bitcoin and USD. This new product purportedly comes with no expiration, which means that the positions can be held indefinitely.

According to the reports, the world’s 2nd largest stock exchange, Nasdaq intends to release its own Bitcoin derivative in the first half of 2019.