• Sun, 17 Feb 2019, 04:42 PM
  • All times are UTC
  • Edition:
    International
Link copied

Huobi DM launches Litecoin contract trading, XRP next on the list

Mon, 28 Jan 2019, 06:24 am UTC

Crypto derivatives exchange Huobi DM has launched contract trading for litecoin (LTC) on its platform.

Litecoin is latest addition to the platform, which already offers weekly, bi-weekly, and quarterly cryptocurrency contracts for Bitcoin (BTC), Ethereum (ETH), and EOS (EOS). Huobi DM said that it plans to add more coin types to its cryptocurrency asset trading service in 2019 starting with Ripple (XRP).

Litecoin is currently the seventh largest cryptocurrency in terms of market capitalization. With its inclusion on Huobi DM, traders will be able to take both long and short positions on LTC, allowing for arbitrage, speculation, and hedging.

"Litecoin is one of the biggest of the altcoins on the market today and we've seen quite a bit of demand for it by our users," said Livio Weng, CEO of Huobi Global. "We'll be adding more coin types to the platform as 2019 progresses, with Ripple next on our list."

Between 2013 and present, the price of LTC has fluctuated from less than $2 to $360.66. Weng added:

"Given the huge changes in price Litecoin and other digital assets regularly experience, Huobi DM can be a powerful tool in managing risk and uncertainty.”

Huobi DM was launched in November in beta mode with BTC contract trading. The platform was officially launched on December 10 and was integrated with Huobi Global, Huobi's flagship cryptocurrency exchange.

Huobi has a 20,000 BTC Huobi Security Fund to protect users against catastrophic security failures. In addition, it has a dedicated Risk Management Insurance Fund for each trading pair against unfilled liquidation order losses. It recently increased the funding for the insurance funds to 71.2 BTC, 1,489.7 ETH, and 48,055 EOS.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $3,628.54 (-0.19%)
  • Ethereum (ETH) $126.66 (+2.57%)
  • XRP (XRP) $0.300400 (-0.64%)
  • Litecoin (LTC) $43.34 (-1.10%)
  • EOS (EOS) $2.82 (-0.75%)
  • Bitcoin (BTC) $3,628.54 (-0.19%)
Feb 15, 2019 (Friday)
10:50
Dutch firm ElaadNL taps IOTA technology for autonomous smart grid PoC
09:39
Rabobank pumps ‎€80M into venture fund to drive fintech and agtech investments
09:06
Enterprise Ethereum Alliance to launch token task force in 2019
07:21
BitTorrent unveils new payment card for BTT tokens
06:09
Luxembourg lawmakers pass blockchain bill into law
05:11
Canadian crypto exchange Coinsquare acquires StellarX
04:12
JP Morgan reveals key details of Quorum Blockchain-based JPM Coin
03:41
Samsung SDS develops blockchain accelerator technology to enhance transaction processing speed
Feb 14, 2019 (Thursday)
12:11
JP Morgan to trial own cryptocurrency ‘JPM Coin’ for instant client payments: Report
11:04
Intel announces new product to accelerate blockchain deployment
09:47
Huobi Wallet adds support for Japanese and Korean languages
09:11
US CFTC includes cryptocurrencies in 2019 examination priorities
07:24
Nasdaq to launch Brave New Coin Bitcoin and Ethereum indices on February 25
06:07
Italian interbank blockchain project enters pre-production phase
05:14
Enterprise Ethereum Alliance opens regional office in China
04:16
UC Berkeley launches blockchain accelerator for early stage startups
03:39
Former JPMorgan Chase executive joins blockchain startup Vakt as CEO
Feb 13, 2019 (Wednesday)
11:46
New feature to enable Coinbase Wallet users to backup private keys on Google Drive and iCloud
10:52
Hyundai Commercial partners with IBM to create blockchain-based commercial financing platform
09:45
Gibraltar Blockchain Exchange lists ICNQ token on GBX-DAX
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft