The daily trading volume on the Huobi Crypto derivatives platform breaks $ 1 billion

The daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market (DM) exceeded $ 1 billion, according to a press release shared with Cointelegraph on 27 December.

Huobi Global – which operates the world's third largest cryptographic spot trading platform – launched Huobi DM last month. The new platform allows traders to trade in Bitcoin (BTC) and Ethereum (ETH) contracts that aim to allow for arbitrage, speculation and hedging.

After reporting over $ 1 billion of daily trading on December 25, Huobi DM is expanding its cryptographic contract offerings to include the EOS. Huobi argues that its cryptographic contracts help market participants control risk and uncertainty through price limit mechanisms and supervisory tools that allow traders to track contract and index prices and positions in real time.

Livio Weng, CEO of Huobi Global, stressed that the offers aim to involve those wishing to control risks in a climate of volatile exchange. According to the company, December 25 saw a strong commitment both to the newly launched DM platform and to Huobi's flagship encrypted exchange; their combined daily trading volume was presumably $ 2 billion.

The launch of Huobi DM comes at a time when it is said that the volumes traded through various exchanges have fallen dramatically.

A recent study by the weekly crypt Diar said that data sampled by eight major cryptographic exchanges – Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex and HitBTC – showed that 60 percent of the still-listed cryptocurrencies are traded to a lower level volumes compared to January. Over 20% of these saw less than 90% of the volumes they saw during the January cryptic bull run.

Furthermore, disputes continue to contain the accuracy of the volumes traded daily reported.

A recent report by the Blockchain Transparency Institute (ITV) said that most of the 25 Bitcoin (BTC) trading pairs listed on CoinMarketCap (CMC) are based on highly inflated false volumes, demonstrating unfair practices such as commercial washing. Huobi – together with HitBTC, OKEx and Bithumb – were among those exchanges involved in the researchers' findings.

This summer, CoinMarketCap has implemented major changes to its cryptocurrency listing method in light of concerns about data volume trading data.