Cryptocurrency trading platforms will survive crypto winter unhurt
|- Huobi DM reports strong growth of trading volumes, despite lethargic market.
- Trading platforms targeted on institutional players perform well.
Cryptocurrency market is lethargic as Bitcoin, and all major altcoins have been trading in tight ranges for the best part of the week. The total capitalization of digital market assets in circulation has settled at $122B, while an average daily trading value is registered at $16.3B.
Meanwhile, Huobi DM, a cryptocurrency exchange forecasted on derivative products, has reported significant growth of trading volumes.
The platform was launched in November 2018 with the aim to allow professional and institutional traders to gain exposure to the cryptocurrency market. Since that time the trading volumes of the platform reached $20B, defying the speculations that the never-ending crypto winter is about to kill cryptocurrency-related business.
At this stage, Huobi DM allows users to open both short and long positions on Bitcoin, Ethereum and EOS and provides options for arbitrage, speculation, and hedging.
Apart from Huobi, Grayscale Investments also revealed positive financial results, noting a steady inflow of funds from professional and institutional players.
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