Huobi Futures, a leading global digital asset derivatives trading platform under the Huobi Group, announced the launch of its Derivatives Master Trading Contest, which aims to encourage users to hedge risk in the current turbulent market. From March 7-13, users will be able to participate in a series of events under the Contest for a chance to win a share of the rewards valued at 60,000 USDT in aggregate.
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Crypto derivatives play a vital role in the digital assets market by enabling investors to hedge positions or speculate on an underlying asset. According to the data disclosed in a recent Exchange Review by CryptoCompare, the crypto derivatives market reached an all-time market share high of 61.2% in January 2022, breaking the previous all time high of 57.3% in November 2021. This suggests that 2022 is starting to see an increase in uptake for hedging and speculation in the crypto market.
Named “Master Contest”, Huobi Derivatives Master Trading Contest is an initiative tailored toward professional traders and regular users who favor futures trading. Prizes will not only be distributed to the champion; the top 20 investors in the daily and total ranking categories will be able to share a 60,000 USDT prize pool.
As one of the leading crypto derivatives trading exchanges in the world, Huobi Futures is committed toward enriching its products while mitigating risk for its users. Huobi Futures introduced USDT-margined futures and options products in December 2021 and January 2022, respectively, enabling investors to enrich their trading and investing strategies. Huobi also applies a three-phase liquidation mode, in order to protect users from unexpected liquidation.
“The crypto market has been turbulent in recent months, to say the least. We’ve witnessed the price of Bitcoin fall from 69,000 USDT to 32,000 USDT in a mere 3 months and it’s now hovering around 40,000 USDT,” said Jeff Mei, Director of Global Strategy at Huobi Global. “Volatility, however, presents ample opportunities for traders to profit. We hope our users can be encouraged to take part in this contest and fully utilize our available functions to hedge risk by trading derivatives.”