Huobi crypto derivatives market platform's trading volume has been growing significantly, despite the bear market.
Having been launched for less than 2 months, Huobi’s crypto derivatives market platform (HBDM.com) is reported to have seen a significant growth in trading volume.
As of writing time, Huobi claims to have $20 billion worth of trading activities on the platform, which is double from the previous 2 weeks’ number.
In a timeframe, the company describes the new platform’s journey as follow:
- November 21: Huobi DM’s Beta is launched, offering BTC contract trading
- December 5: Huobi DM launches ETH contract trading
- December 10: Huobi DM’s full version is released and integrated with Huobi Global crypto exchange platform. Daily trading volume reaches a new milestone of $195 million.
- December 25: Huobi DM sees more than $1 billion daily trading volume, a new milestone is reached.
- December 28: EOS contract trading is launched. Platform reaches $10 billion in cumulative trading volume.
- December 31: Huobi DM sees a cumulative trading volume of $12 billion.
- January 12: Huobi DM breaks the $20 billion cumulative trading volume.
Commenting about the “achievement” to CCN, Huobi Global’s CEO, Livio Weng said, “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 exploding growth, even in the midst of the ongoing bear market,” he added.
Looking at the positive responses, it’s very likely to have more markets added on HBDM.com, which will add to the current list of derivatives of Bitcoin, Ethereum and EOS on the platform.
In a broader context, hopefully, it will also help with the company's struggle in dealing with the crypto winter, as reported by Chepicap last month.
Huobi Global is currently on the 8th position of the list of the largest crypto exchanges by trading volume with $312,711,926 of daily volume.
In crypto, bear market can mean anything. Check out our technical analysis to get a better perspective on the market.