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 Tweeted:

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.

Also Read:

Litecoin gets a new logo, and it looks awesome

Get the latest news on Blockchain only on Blockmanity.com. Subscribe to us on Google news and do follow us on Twitter @Blockmanity