Litecoin (LTC) Futures Live on Huobi, XRP Next on the line
Litecoin (LTC) futures are live on Huobi’s derivatives platform
Traders will be able to take a long or short position on Litecoin for the first time on the Huobi Derivatives platform starting today at SGT 18:00 p.m. LTC is the fourth asset to be listed on the derivatives platform after Bitcoin (BTC), Ethereum (ETH) and EOS.
The price for the LTC/USD derivative will be based on prices from GDAX, Kraken, Huobi, and Bitstamp with a 25% share in the index for every exchange. There will be three types of contracts including weekly, bi-weekly and quarterly with a face value of $10.
The minimum margin ratio for:
- 1x leverage is 100% (Adj factor is 2%)
- 5x leverage is 20% (Adj factor is 10%)
- 10x leverage is 10% (Adj factor is 20%)
- 20x leverage is 5% (Adj factor is 40%)
Users will be able to trade till the last 10 minutes before delivery and the delivery date will be 16:00 pm (UTC + 8) on Friday before the contract expiration week.
Huobi DM launches #Litecoin (#LTC) contract trading today!
Delivery fees: 0.05%
Open/Close Trading fees: 0.02% (Makers), 0.03% (Takers)
✅For more information visit: https://t.co/cvpv9t7bL1 pic.twitter.com/KwiBaaOuho
— Huobi Global (@HuobiGlobal) January 25, 2019
Huobi derivatives platform has gained quite a lot of traction since launch, after launching in December last year it has crossed $20 Billion in trading volume. The exchange also plans to add futures contracts for Ripple or XRP to its platform shortly.
According to Decrypt Livio Weng, CEO of Huobi Global 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 users, We’ll be adding more coin types to the platform as 2019 progresses, with Ripple next on our list.”
Litecoin has surged 0.5% in the past day and is currently at a price of $32.5 with a market cap of $1.9 Billion.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Did you like the news you just read? Please leave a feedback to help us serve you better