Huobi DM Perpetual Swaps Volume Hit ATH Of $2.6B Swiftly Taking Market Share
Huobi DM is the fastest-growing crypto-derivative exchange by trading volume. It has launched BTC Perpetual Swap Contract on March 27.
Five days later, $183M worth of BTC Perpetual Swap contracts traded on it. One month after the launch, Huobi DM marked a new record of $1.35B in 24-hour volume, indicating a 638% growth from its first day.
At the same time, the Open Interest of Huobi DM BTC Perpetual Swaps increased from $4.56m on April 2 to $56.4M on April 28, which shows the rapid growth of 1136.8%.
As such, Huobi DM’s Perpetual Swaps Volume share jumped from about 1.8% at the end of March to nearly 21% by April 21.8%, while open interest share gained 4% over the period, CryptoRank’s data shows.