SINGAPORE, Nov. 21, 2019 /PRNewswire/ -- Huobi DM, Huobi's innovative crypto contract service platform, celebrates the service's 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 the derivative products similar to a traditional futures contract but without expiry or settlement.
To come to this point, Huobi DM has come a long way. In terms of overall daily volume, Huobi DM outperformed several competitors based on AiCoin's 24h trading volume data. According to the dataset, as of November 18, 2019, Huobi DM led major competitors with $2.1 billion in daily transactional volume. 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. October 26 saw the peak of total 24-hour volume for both DM and BTC contracts, with $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, 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 already available in 6 languages, which are Chinese, English, Russian, Vietnamese, Turkish, and Korean. The recent launch of Vietnamese trading services was accompanied by promotional activities for Huobi DM in Vietnam. Also, Huobi DM covers the 9 major cryptocurrencies of BTC, EOS, ETH, BCH, LTC, XRP, TRX, BSV, and ETC.
For Huobi DM's future development, Lan stated that "our platform will expand to more diverse markets and add more product types, with perpetual contracts are just a start. With more 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
About Huobi Group
Huobi Group is a leading global blockchain and digital assets business. Established in 2013, Huobi Group accumulates a turnover that places it among the leading global exchanges. With pride, it provides a secure and convenient trading platform and digital asset management services for millions of users in more than 130 countries.
For more information, visit www.huobi.com
SOURCE Huobi Group