XRP contracts with margin trading feature to be soon listed by Huobi Derivative Market

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According to Huobi Global’s blog released on 27 March 2019, Huobi Derivative Market [DM] will be listing XRP contracts on 29 March 2019, at 1800 HRS SGT.

Source: Huobi Global

This announcement by Huobi is yet another step towards XRP’s massive and aggressive adoption spree in recent months. The face value for these contracts will be placed at $10 and the contract multiplier will be 1 USD/point, “point” being the price quotation unit. Users can leverage up to 20X, with a maximum margin for 20X leverage being 40%.

XRP Adoption

The stigma of XRP being a security was mitigated after more and more exchanges began adding XRP to their platforms. Many are also adding XRP as base pairs.

CoinField, a cryptocurrency exchange, added 130+ pairs against XRP on their testnet for backtesting, before it was actually implemented.

Shari’a-compliant cryptocurrency exchange, Rain, added XRP to their roster for trading to their users. This announcement by Rain came after their partner, Shariya Review Bureau conducted an audit and deemed XRP Shari’a-compliant.

@PaladinStacker, a Reddit user commented,

“They seem big in Asia … “In December 2017, it launched an office in Tokyo, Japan[22]and announced that it would set up two crypto exchanges in Japan in early 2018, through a partnership with Japanese financial group SBI Group.[23] In March 2018, Huobi announced that it will be launching in the United States.””

@Conkerman, another Reddit user commented,

“Isn’t this margin trading? If so, just makes a huge and very risky contract type more easily accessible to the average Joe…”

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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