Huobi Pro to Release Cryptocurrency Index, Along with Financial Products.
World leading cryptocurrency exchange Huobi Pro has announced that they will be releasing a new cryptocurrency index. The index will be dubbed “Huobi 10 index” and it will track a total of ten different digital assets traded against Tether. Tether is a stable-coin, meaning that it is pegged to the US Dollar on a constant basis. Huobi 10 will serve as a reflection of the overall performance of Huobi Pro’s market. Thereby giving users of the exchange the ability to see a single figure representing the entire market as opposed to having to check each digital asset individually. Huobi Pro is currently giving traders, investors, and enthusiasts from all over the world access to over 100 digital assets. It is arguably the most secure exchange in operation, and it is also the first exchange to ever offer 24/7 customer care!
Huobi 10 has done well when put up against Bitcoin. Data dating from March to May has provided the information that Huobi 10’s alpha is -.0.0028 when compared to Bitcoin. The index’s beta based on BTC is 0.79. In turn, Huobi 10 succeeds in maintaining alpha while simultaneously reducing volatility. The Bitcoin index seems to have a relatively bright future ahead.
Huobi 10 will be an index that uses weighted samples, meaning that the index will be weighted using four different categories which include digital assets, platform, application, and real asset substitute. Huobi’s release for the index detailed..”Assets will be ranked according to their turnover, and top assets of each category will be selected as index samples. After samples are selected, the sample weight will be calculated based on the daily average trading volume of the previous quarter.” The index can be of great benefit for traders and investors, as it gives them the opportunity to track the overall market for digital assets in terms of volatility, direction, benchmarking, and performance.
Huobi Pro is a pioneering force in the blockchain/cryptocurrency industry. Their new crypto index is set to be published worldwide in financial communication agencies including the likes of Bloomberg. Huobi aims to standardize cryptocurrencies in the financial world, and in the eyes of of investors. Although for now Huobi 10 is just a crypto index which is giving users an overview of the state of the digital asset market, Huobi further announced that they will be releasing a financial product named “HB10”. The product bases itself on Huobi’s crypto index and it will be launched in June 2018. In the near future, Huobi will be launching future financial derivatives, all based on Huobi 10. The road thereby does not end by Huobi merely releasing an index. Rather, a vast arrange of financial products will be made available by the leading, global exchange.
This innovative project marks one of many for Huobi. Huobi earlier released HADAX (Huobi Autonomous Digital Asset Exchange), where Huobi Token holders can use their tokens to vote for new digital assets to be added. Other projects include “Huobi Buybacks”, where Huobi decided to buy back a significant amount of HTs back from the market in order to increase user security.
Continuing at this pace, Huobi may be set to become the largest and most successful exchange in the world. Start using Huobi using this link!
By Jaime Gutt.