Huobi Derivative Market (Huobi DM) has added Litecoin (LTC) for contract trading as of January 25, with Ripple’s XRP soon to join its current stable that already includes Bitcoin (BTC), Ether (ETH), and EOS (EOS).
With this addition, traders will now be able to take both long and short positions on LTC for arbitrage, speculation, and hedging. All four tokens have weekly, bi-weekly, and quarterly contract options on Huobi DM.
Why Litecoin? Huobi Global CEO Livio Weng said Litecoin is not just one of the biggest altcoins available today, Huobi has also seen “quite a bit of demand” for it from users.
Though LTC is very much down from an all-time high of about $371 back in 2017, Weng argues that such drastic price fluctuations can also mean much opportunity. LTC is trading at around $31.70 at this time of writing. Weng added that “Huobi DM can be a powerful tool in managing risk and uncertainty.”
Further to the announcement on LTC trading, Weng confirmed that Ripple (XRP) will be the next to be added on Huobi DM “as 2019 progresses” – without specifying a date.