Huobi plans to launch the company’s first crypto exchange — dedicated to EOS — in the first quarter of 2019.
Huobi Group plans to launch the company’s first cryptocurrency exchange — which will be dedicated to EOS — in the first quarter of 2019, according to a press release sent to Cointelegraph on Dec. 29.
The exchange will be reportedly launched by Huobi Pool, the group’s cryptocurrency mining arm. Cao Fei, the CEO of Huobi Pool, described the launch of the EOS exchange as “the next logical step in our support” as an EOS Block Producer (BP).
The release states that the exchange will allow clients to trade in the altcoin EOS against several other cryptocurrencies.
Huobi is currently the third-ranked crypto exchange based on the volume on CoinMarketCap, with around $774 million in 24 hour volume at press time.
As Cointelegraph reported, the exchange recently also announced support for EOS on its derivative market. The daily traded volume on Huobi’s cryptocurrency derivative market also reportedly recently broke $1 billion.
The company’s derivative market had been launched only about a month before, at the end of November. The advantage that the company stressed when presenting the market at the Cryptofrontiers conference is that it allows customers to take both short and long positions.
EOS has been repeatedly criticized for alleged centralization. Recently, Starteos, one of EOS’ BP’s, appeared to publically offer its token holders financial rewards in return for their votes. There have also been investigations in the EOS ecosystem after Huobi was accused of running a corruption scheme.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.