Huobi DM Records Trading Volume Exceeding $20 Billion
Huobi’s crypto asset trading service, Huobi Derivative Market (Huobi DM), had reported a trading volume exceeding USD $20 billion. This number is recorded despite the incessant downtrend the market has been experiencing since last year.
Huobi DM Record USD $20 billion Trading Volume
Huobi DM which recently reported that it has achieved a milestone of USD $10 billion in trading volume in its first full month of operation, announced a new number— USD $20 billion, just 15 days after the first milestone was reported.
According to recent internal customer research, done by Huobi DM team, the reason behind this massive jump in trading volume can be traced to the lack of clawbacks experienced while using the platform.
Livio Weng, CEO of Huobi Global has also issued a statement regarding this recent volume spike.
Weng stated that:
“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 provides users with the ability to buy or sell cryptocurrencies such as Bitcoin (BTC), and Ethereum (ETH), trading options such arbitrage, and hedging. Most of which were not available on most other crypto trading platform.
Important Periods In The Growth Of The Crypto Asset Trading Service
- 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
