Huobi Global announced on March 27th that Huobi’s derivatives exchange, Huobi Derivative Market, will launch XRP futures contracts this Friday The derivatives exchange (“Huobi DM”), already supports 4 major cryptos, which are Bitcoin, Litecoin, Ethereum and EOS futures.
Huobi DM will launch weekly, bi-weekly, and quarterly XRP contracts at 10:00 UTC (18:00 SGT) on March 29th. Here are the full details of this product:
Huobi showing support for XRP across its ecosystem as the company has already added XRP to its OTC (over-the-counter ) trading platform for big institutions.
It has been reported that Ripple regularly sells XRP over-the-counter to exchanges and institutional investors. 50% of the total supply of XRP is owned by Ripple.
Just hours before writing this article, Ripple moved millions of XRP. It appears to be Ripple selling a portion of its holdings to a third-party.