Home / Ethereum / The EOS contract combines Bitcoin and Ethereum on the Huobi derivative market

The EOS contract combines Bitcoin and Ethereum on the Huobi derivative market

Photo: Huobi Global / Facebook

Photo: Huobi Global / Facebook

This Christmas season is packed with different news crypts from numerous projects and it seems that they are doing their best to conclude this controversial year for the cryptic industry in good condition.

As has been recently revealed, the Singapore-based exchange of cryptocurrencies in Huobi, known as the Huobi Derivative Market, will introduce an EOS contract.

EOS in 2018

According to Huobi's plans, the EOS currency will be added to the exchange trading service this Friday, December 28th. This move will contribute to the expansion of the EOS market and will certainly have a positive impact on the currency trading volumes.

This year has become a very significant for EOS. In the summer, after the EOS separation from the Ethereum network and the ERC-20 token standard, the EOS network was launched. But just like XRP, EOS is often criticized for being centralized.

At present, EOS is included in the list of the best cryptocurrencies 10 by market capitalization. Although some months ago, its price managed to exceed the $ 6 limit, the currency lost an important part of its value and a few weeks ago it was traded for $ 1.74.

In November, EOS managed to replace Bitcoin Cash at the fourth position in the list of major cryptocurrencies, but at the time of printing the currency is the fifth largest crypt in the world and is trading for $ 2.54. Currently, the EOS market capitalization is $ 2 298 249 041.

The largest share of the entire EOS trading volume is assured by traders working on the OKEx stock exchange, Huobi occupies the fourth position on this list. However, the recent initiative by Huobi could significantly change the situation.

Derivated Market of Huobi

The Huobi Derivative Market was launched about a month ago and was announced as part of the Cryptofrontiers conference in New York on November 28th. The main objective of the platform is to offer users the opportunity to exchange encrypted contracts on various currencies.

Initially, it was possible to work only with the Bitcoin and Ethereum contracts, but now it will also be extended to EOS. As has been revealed, Huobi presented the contracts on a weekly, biweekly and quarterly basis, while offering the necessary tools for arbitration, speculation and hedging. Furthermore, it is known that Huobi DM has a good insurance fund which contains about 20,000 BTC.

Speaking of their initiative to create Huobi DM, Livio Weng, CEO of Huobi Global, said:

"Sophisticated traders are increasingly looking for a wider range of tools, the integration of Huobi DM with Huobi Global allows us to better meet the needs of users by offering them our full range of trading services in one convenient place ".

Among the recent news received from the Huobi stock exchange, it is worth remembering that, under unstable market conditions, the company is trying to optimize its business strategy and review its priorities. As part of its optimization, it made a decision to reduce the number of its staff.

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