Huobi outperforms OKEx even as its Q3 turnover drops by 40%

  • Huobi outperforms OKEx in the third quarter
  • There are more investors in the crypto derivatives industry than in previous times

Huobi Ventures has revealed that its turnover on its platform declined by 40% in the third quarter although its volume, nevertheless, remained steady during the same period.

After the dip Huobi suffered, its platform still outperformed its main opponent OKEx as its transaction records show that trading volume for the quarter was $ 268 billion with an average of $ 2.9 billion per day. On the other hand, the OKEx Futures platform only had $ 197.9 billion during the same period.

Earlier in the year, Huobi recorded $ 444.15 billion in the first quarter and recorded $ 433.87 billion for the second quarter.

However, derivatives platforms have recently enjoyed an increase in their trade volumes. A derivatives platform allows investors to bet on the price of crypto assets without necessarily having to take hold of such assets.

Reports from CryptoCompare, a crypto analytics firm have shown that trades on crypto derivatives fell to $ 619 billion for October. The figure was $ 635 billion in September while it was $ 712 billion in August.

The market has also seen the entry of more popular investors like Binance and Bitmex who have their eyes set on an anonymous crypto platform. Binance recently introduced a new feature to its users as the crypto company now allows their traders to access margin trading.

Huobi Futures gives its users the Bitcoin option

Huobi Futures has given its users an option to be able to trade in Bitcoin as well. Like all other derivatives platforms, Huobi Futures will give buyers the right to buy and sell Bitcoin at an agreed price and at a specified date.

However, these consumers are not obliged to buy the coins they could have foreseen. The BTC option is quoted in USDT.