Huobi To Launch USDC/USDT Perpetual Futures Amid SVB Collapse
According to the official announcement, Huobi will be launching USDC/USDT perpetual futures at 3:00 (UTC) on March 12, 2023.
Huobi has been steadily expanding its futures offerings, and the addition of USDC/USDT perpetual futures is seen as a strategic move to capture a share of the growing stablecoin market. USD Coin and USD Tether are among the most popular stablecoins in the market, and their value is pegged to the US dollar, making them less volatile than other cryptocurrencies.
According to Huobi’s announcement, the USDC/USDT perpetual futures will be available with up to 50x leverage, giving traders the opportunity to amplify their profits, albeit at a higher risk. The exchange has also stated that it will be implementing robust risk management measures to ensure that the trading platform remains stable and secure.
At the time of writing, USDC/USDT is trading at $0.9495 as shown by Huobi data.
Huobi’s move to launch USDC/USDT perpetual futures is expected to attract both institutional and retail traders looking to trade in a more stable and less volatile market. With the launch just around the corner, traders are eagerly waiting to see how the product will perform in the market.
Coincu previously reported Huobi’s native token fell over 90% in a flash crash last Thursday trading. Meanwhile, Whale Alert data revealed a transfer of 100,000,000 USD Coin from Justin Sun’s wallet address to Huobi. Sun confirmed the transaction shortly after it was discovered.
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