Exchange News

A dedicated EOS crypto exchange to be launched early next year

The Huobi group is recently making a heavy reference to the EOS crypto coin. Just a few days ago, the Huobi cryptocurrency exchange added EOS to its derivative market.

In an announcement, the Huobi group is furthering its involvement with the EOS crypto coin by launching a dedicated EOS crypto exchange. The launch of the exchange will be handled by the exchange’s crypto mining division which is called the Huobi Pool.

Cao Fei, CEO, Huobi Pool, said that:

“As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities. Launching this EOS exchange is simply the next logical step in our support.”

According to the announcement, the dedicated EOS crypto exchange will pair other cryptocurrencies against EOS. However, the number of cryptocurrencies that will be available for pairing with EOS on the exchange has not been released as of yet.

The launch of a dedicated EOS crypto exchange comes just two days after Huobi Global expanded its derivatives market which only included Bitcoin (BTC) and Ether (ETH) to also include EOS.

In a press release, Livio Weng, CEO, Huobi Global, noted that the “Bitcoin and Ethereum contract services” were a success and that the addition of EOS marks the start of new coins being added to the exchange’s derivative market “to address customer demand.”

Weng added that:

“Huobi DM [Derivative Market] can be a powerful tool in managing risk in EOS and other cryptocurrencies. That’s an important factor when dealing with bear markets, such as the one we find ourselves in now.”

As part of the derivative market, cryptocurrency traders will have the chance to hedge, speculate, and arbitrate on EOS.

Do you think a dedicated EOS crypto exchange will see more traders get involved with EOS?

Let us know your thoughts in the comments section below.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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