Litecoin (LTC) Available on Huobi Derivative Market, XRP Next on the List
In one of the latest press releases, Huobi Derivative Market announced the addition of a new cryptocurrency, this time adding Litecoin (LTC).
According to the official release, Litecoin became available for contract trading on January 25th, while Huobi Derivative Market announced their plan on adding more digital assets to the list of existing cryptocurrencies in 2019.
In the meanwhile, despite the rough time LTC had during the most of 2018, we can see the crypto rebounding to push Stellar Lumens (XLM) down the list as Litecoin became the 7th largest cryptocurrency by market capitalization.
Huobi Global CEO Claims Litecoin (LTC) Added Due to the Increased Demand
Livio Wang, the CEO of Huobi Global, said in an official announcement regarding the latest listing of Litecoin that Huobi have seen an increased demand for LTC from their users, which is the reason why they decided to add Litecoin to their list of cryptos being traded through contracts.
Huobi Derivative Market have previously listed Bitcoin (BTC), Ethereum (ETH) and EOS (EOS) for contract trading, additionally opening an exchange focused on EOS as a base currency for increased adoption of the crypto.
Weng added that Huobi Derivative Market can represent a powerful tool for managing cryptocurrencies with lowered risk, especially due to the fact that Litecoin has been experiencing frequent price drops alongside its crypto peers.
Now that LTC have joined the growing list of contract-traded digital assets, Huobi DM users can take advantage of hedging, speculation and arbitrage for trading risk mitigation.
Cryptocurrency can be traded through contracts on Huobi DM on weekly, bi-weekly and quarterly basis, while the CEO of Huobi Group added that they are planning on adding more assets for contract trading in 2019.
According to Weng, Ripple’s XRP should be the next in line to follow up the listing of Litecoin on Huobi DM.
Litecoin One of the Biggest Altcoins, XRP Next to Be Listed – Weng Claims
Calling LTC one of the biggest altcoins in the market, being the first hard fork to be derived from Bitcoin chain with improved time for validating transactions and with lower fees perfect for microtransactions, Weng added that Ripple’s XRP will be the next digital asset to join the list of cryptos available on Huobi Derivative Market for contract trading.
Moreover, Huobi DM offers competitive fee rates, stating that doesn’t go beyond 0.02% for makers dealing with LTC and 0.03% for takers with an additional fee of 0.05% for delivery.
Huobi DM helps traders lower the risk of losing their investment in an already vulnerable cryptocurrency market that lost nearly -90% of the total value of all cryptos in the market by offering price limits, position limit and order limit.
Additionally, traders can go long or short with LTC and other available assets on Huobi DM, having user protection through Risk Management Insurance Fund and Huobi Security Fund that holds 20,000 BTC in order to prevent security failures.
Huobi is by far one of the leading companies in the blockchain industry with 1 trillion-dollar cap in accumulative turnovers, working on cryptocurrency adoption since 2013.