Cryptocurrency Exchange The Huobi derivatives market now supports EOS altcoin, according to an official press release shared with Cointelegraph on 28 December.
Huobi is currently trading third-class cryptocurrency by volume adjusted on CoinMarketCap, with about $ 505 million in 24-hour volume at the time of printing.
Reportedly, traders will be able to take long and short positions on EOS. The decision to create the derivative contract is part of the "continuous efforts of the exchange to meet customer demand".
According to the press release, the contract will support the price limit, order limit and position limit orders up to 20 times the lever. The fees for trading the EOS derivative on the Huobi derivative market will be 0.02% for producers and 0.03% for buyers of open and closed positions.
At press time, EOS traded at around $ 2.35, down slightly more than 7 percent of the day.
Huobi announced the launch of its derivatives market at the Cryptofrontiers conference in New York in November. Contract trading allows users to buy and sell digital currencies at predetermined prices at certain times in the future, offering investors the opportunity to earn from both upward and downward market trends.
As recently reported by Cointelegraph, OKEx, an important cryptocurrency exchange based in Malta, has recently launched a new derivative. This new product, called Perpetual Swap, is a virtual derivative that allows users to speculate on the future value of BTC / USD. Perpetual swaps have no maturity, which means that positions can be held indefinitely.
Nasdaq, the second largest stock exchange in the world, plans to release its derivative Bitcoin (BTC), the Bitcoin futures, in the first half of 2019.