Crypto derivatives exchange Huobi DM launches TRX contract trading

Crypto derivatives exchange Huobi DM has announced the launch of contract trading for Tron (TRX) on its platform.

TRX is the seventh coin to be added to the crypto asset trading platform since its launch in November 2018. In addition to TRX, Huobi DM offers weekly, bi-weekly, and quarterly cryptocurrency contracts for Bitcoin (BTC), Ethereum (ETH), EOS (EOS), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH).

"The addition of Tron is another big step towards our goal of making Huobi DM the most powerful and flexible platform of its kind," said Ross Zhang, CEO of Huobi Group. "We look forward to adding even more coin types over the course of this year."

Traders would be able to take both long and short positions on TRX, allowing for arbitrage, speculation, and hedging.

TRX is currently the eleventh largest cryptocurrency by market capitalization and is trading at $0.023 at the time of writing. Since 2017, its value has fluctuated between $0.001091 and $0.300363.

As part of Huobi's rollout of TRX, Huobi announced that it will be giving away 1 million TRX tokens to Huobi DM traders and offer a 100% maker fee rebate on TRX contracts to its users.