Huobi DM, Huobi’s innovative crypto contract service platform, celebrates its one-year anniversary with a new product offering. In Q1 of 2020, Huobi DM will launch perpetual contracts in a sign of how far the platform has come. Perpetual contracts are derivative products similar to traditional futures contracts but without expiry or settlement.
Leading up to this milestone, Huobi DM has gained significant traction. In terms of overall daily volume, Huobi DM outperformed several competitors based on AiCoin’s 24h trading volume data. According to the data, Huobi DM led major competitors with $2.1 billion in daily transactional volume as of November 18, 2019. From October 1 to November 15, 2019, the daily average volume on Huobi DM surpassed $2.5 billion. As for BTC contracts, Huobi DM’s average daily volume was over $1.5 billion. On October 26, total 24-hour volume for both DM and BTC contracts reached an all-time high at $9.9 billion and $6.7 billion, respectively.
According to Jason Lan, Vice President of Huobi Group, “The wealth of products added to Huobi DM reflects the overall strength of the platform.” Lan highlighted DM’s Sentiment Index function in October as a particularly exciting development. The Sentiment Index function releases open interest, liquidation, and long and short data to users, which enables better market analyses and decisions. Huobi DM is also updating its API to support more order types such as advanced limit orders.
Huobi DM is currently available in six languages—Chinese, English, Russian, Vietnamese, Turkish, and Korean. Huobi DM also supports nine major cryptocurrencies: BTC, EOS, ETH, BCH, LTC, XRP, TRX, BSV, and ETC.
For Huobi DM’s future development, Lan stated, “We plan to expand our platform to more diverse markets and continue introducing new products starting with perpetual contracts. With more support for languages and markets, we can have more localized offices and events. “
Disclaimers: Digital assets are innovative trading products, and prices fluctuate greatly. Please rationally judge your trading ability and make decisions prudently. Please note that users must pass the requisite KYC checks and assessments prior to commencing usage of Huobi DM. For more information on Huobi DM, please visit www.hbdm.com