Huobi DM Announces Litecoin (LTC) Crypto Asset Contract Service

Huobi DM Announces Litecoin (LTC) Crypto Asset Contract Service

Huobi DM (Derivative Market) announced that it has started Litecoin (LTC) crypto asset contract service on its trading platform.

Recently in December 2018, Huobi DM launched its ETH contract trading and exited its beta mode of operations. It also integrated with Huobi's cryptocurrency exchange and reached to USD $ 1 billion in trading volume on 25th December 2018. EOS contracts are also available on Huobi DM since December 2018.

Litecoin Contract details

Litecoin is the third altcoin now available on Huobi platform after Ethereum (ETH), EOS. In terms of market capital, Litecoin is the fourth largest digital asset now available on Huobi DM. Since 2013, Litecoin price witnessed from around USD $2 to around USD $360. Litecoin Historical Prices

Huobi DM now offers weekly, bi-weekly, and quarterly cryptocurrency contracts for Bitcoin (BTC), Ethereum (ETH), and EOS (EOS) along with Litecoin (LTC).

According to the Huobi's announcement on its website, the minimum margin leverage will vary from 100% for 1X leverage, 20% for 5x leverage, 10% for 10x leverage and 5% for 20x leverage. Fee structure announced was 0.02% to open or close for makers and 0.03% to open or close for takers with a delivery fee of 0.05%.

LTC/USD index listing is considered from Bitstamp, Gdax Kraken, and Huobi exchanges. Each of these exchange's LTC/USD index will have a weight of 25%.

Executive Opinion

Chief Executive Officer (CEO) of Huobi Global, Livio Weng, said, "Litecoin is one of the biggest of the altcoins on the market today and we've seen quite a bit of demand for it by our usersWe'll be adding more coin types to the platform as 2019 progresses, with Ripple next on our list." He further added, "Given the huge changes in price Litecoin and other digital assets regularly experience, Huobi DM can be a powerful tool in managing risk and uncertainty."

What's Next?

Huobi also plans to add Ripple (XRP) to its cryptocurrency asset trading service and other altcoins will be added in coming months 2019.

In January 2019, this month Huobi also launched its fully licensed Cryptocurrency exchange in Japan.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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