Huobi Rebrands its Derivatives Platform to Huobi Futures
Huobi Futures has been rebranded by crypto exchange Huobi DM .
This announcement was made on Sunday as the derivatives trading platform is experiencing a huge surge in demand for cryptocurrency futures contracts.
TokenInsight data shows that Huobi’s derivatives platform handled 22 percent of all crypto derivatives in the last quarter with a total volume exceeding $438 billion.
“The crypto derivatives market has been very exciting over the last quarters, but I’m more excited about the increased activity we see today,” Ciara Sun (Huobi’s head for global business and markets) said.
The exchange pointed out that retail traders are also interested in the market, along with increasing institutional demand for crypto derivatives.
Sun said, “Rising demand from institutional and retail users for crypto derivatives signifies growing acceptance and maturing markets, so we’re positioning Huobi Futures in order to bridge the gap towards traditional finance markets.”
Crypto derivatives are in high demand
Huobi is well-known for its spot cryptocurrency exchange. In late 2018, Huobi launched its derivatives platform long before Binance and other competitors. Trading platforms received a great response, with some impressive numbers reported.
The exchange is constantly introducing new products. According to the exchange, the newly launched coin-margined perpetual contract are in high demand.
According to Coinmarketcap.com, Binance’s futures trading platform has surpassed BitMEX as the top platform for daily trading volume.
Huobi expects to appeal to a larger audience with this rebranding and make it more accessible to new traders.
Sun stated that while announcing the news of the rebranding, “A name change is not too significant, but for us it represents an acknowledgement of the changing times in cryptocurrency trading space,” Sun said.