According to an official press release dated December 28, Huobi, one of the largest cryptocurrency exchanges derivative market is supporting altcoin EOS. At present, the exchange is ranked three in terms of adjusted volume on CoinMarketCap with an approx trade volume of $505 million in 24 hours.
According to sources, traders will be allowed to take long as well as short positions on EOS. Derivatives were created as a part of Huobi’s ‘ongoing efforts to address customer demand.’ The PR suggests that this contract will support order limit, price limit and position limit orders at 20x leverage. Fees applicable for trade of EOS derivatives on Huobi derivative market will be 0.02% for makers and 0.03% for takers to open as well as close positions. At this point of time, EOS is trading at approximately $2.35. The value has seen a 7% descent from the day.
In the month of November at Crypto Frontiers conference, Huobi came out to announce the launch of its derivatives.Users can sell and purchase digital currencies at specific and determined prices with the help of contract trading. With this, investors will get the opportunity to gain regardless of whether the market trend is going upwards or downwards.
Perpetual swap is a latest derivative launched by OKEx, a Malta based crypto exchange. The product is a virtual derivative which allows the users to speculate the future value of BTC/USD. The position of this product can be held indefinitely. The world’s second largest crypto exchange, Nasdaq has plans of introducing its own derivatives based on BTC in the first 6 months of 2019.