The Daily: Derivative Market Hits $12B in Volume, Reports of Layoffs, Another Fork
The time has come for resources to control the volatility and risk of cryptocurrency -- particularly through bear markets, such as the one we find ourselves in now.
Huobi, the fourth largest crypto exchange by trading volume, has shown that its derivatives platform, Huobi DM, enrolled over $12 billion of commerce deals within the first month of its launch. Commenting on the financial effects, Huobi Global CEO Livio Weng explained the rapid expansion “illustrates the strong desire” from institutional investors and professional traders to invest in cryptocurrencies. The executive said: Ethereum core programmers have also recently discussed and agreed to execute a brand new ASIC-resistant proof-of-work algorithm targeted at increasing the efficacy of mining with GPUs. The purchase price of the coin using all the approximate market capitalization has grown in the past seven days, from approximately $135 to almost $157 at the right time of writing.