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Huobi to Launch EOS Exchange and Add EOS to Huobi DM

Melanie Kramer

Huobi Pool will launch a dedicated EOS exchange early in 2019 allowing users to trade EOS against “a number” of yet to be revealed cryptocurrencies.

The cryptocurrency mining arm of Huobi Group, Huobi Pool, is already an EOS supernode and works closely with EOS. Other collaborative projects include the Crypto Kylin Testnet, an EOS test chain for developing EOS projects.

Huobi Pool has also developed a voting platform for EOS owners and manages an EOS community to raise awareness of node elections. The recent press release outlines the EOS blockchain’s ethos for consensus:

“Through its Distributed Proof of Stake (DPoS) consensus method, EOS enables individuals and groups around the world to collaborate and share in the decision-making process.”

Through proof of stake (PoS), a potential game-changer for blockchain, validated EOS owners will govern the development and future of the blockchain in order to achieve decentralization.

EOS Exchange “Simply the Next Logical Step”

Cao Fei, Huobi Pool’s CEO, added:

“Launching this EOS exchange is simply the next logical step in our support.”

Huobi Group’s cryptocurrency exchange is currently 3rd in CoinMarketCap’s rankings by adjusted trade volume and according to the release the company is now achieving an accumulated turnover of over $1 trillion.

In recent days Huobi’s derivative trading platform, Huobi DM, has also added EOS to its contract trading services.

Huobi Global CEO, Livio Weng, explained that this is in response to strong demand from customers to add more coins to Huobi DM, and that:

“We’ve seen a great response to our Bitcoin and Ethereum contract services from a broad range of sophisticated traders.”

Huobi DM also plans to add further cryptocurrencies to its platform in 2019, in its press release Weng added:

“Since launching in 2017, EOS’s price has fluctuated between $18 and less than $0.80…Huobi DM can be a powerful tool in managing risk in EOS and other cryptocurrencies.”

The two additions for Huobi come amidst a flurry of developments from the company but also news that Huobi Group, now employing over 1000 staff, will be making lay-offs in the new year. Though Huobi says it will continue to recruit for its “core business and emerging markets.”

Though past 24-hour prices have fallen once again for many coins, EOS is showing a slight 0.83% price increase in the past 24 hours. Generally, EOS is showing a similar trend line to bitcoin (BTC) this week.

EOS has seen a number of rallies this month, potentially fuelled by the growing popularity of its blockchain. China rated it the best over all other chains in the past week and a 21% rise for the coin on December 17, 2018, came after some lively EOS hackathon activity.

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