Crypto Derivatives Update: Huobi DM To Roll Out Perpetual Swap Contracts in Q1 2020

By Supriya Saxena
Published November 22, 2019 Updated November 22, 2019
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Crypto Derivatives Update: Huobi DM To Roll Out Perpetual Swap Contracts in Q1 2020

By Supriya Saxena
Published November 22, 2019 Updated November 22, 2019

Huobi DM, Huobi’s crypto contract service platform is all set to launch perpetual contracts in Q1 2020.  The latter is quite similar to a traditional futures contract but has no expiry or settlement. 

Huobi On An Expansion Spree

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HuobiDM  will face terse competition from exchanges like Bithumb, KuCoin, and FTX in offering the new perpetual contract feature. Furthermore, Huobi is also working earnestly towards international expansion. The exchange recently launched its cloud-based services in the Middle East and North Africa (MENA) region and is offering white-label services to the exchanges operating in the region. Huobi’s biggest market competitor Binance also jumped into offering perpetual contracts with the acquisition of digital asset derivatives platform JEX earlier this year.

From the Vice President’s Desk 

According to Jason Lan, Vice President of Huobi Group, 

“The wealth of products added to Huobi DM reflects the overall strength of the platform”.

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.”

He further highlighted DM’s Sentiment Index function in October as a particularly exciting development.

What is the Sentiment Index Function? 

The Sentiment Index function releases open interest, liquidation, long and short data to users, which enables better market analyses and decisions. As a matter of fact, Huobi DM is also updating its API to support more order types such as advanced limit orders.

A Look At Huobi’s Daily Transaction Volume

Huobi DM has a daily transaction volume of $2.1 Billion. For BTC contracts, Huobi DM’s average daily volume was over $1.5 billion. Also, 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.

Presently, Huobi DM is available in 6 languages namely Chinese, English, Russian, Vietnamese, Turkish, and Korean. 

Will Huobi’s upcoming perpetual contracts become as popular as the existing ones. Let us know, what you think in the comments below!

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Supriya Saxena
216 Articles
Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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