Huobi Announces XRP Futures Launch As Ripple Moves Millions in Crypto
The Singapore-based crypto exchange Huobi says it will launch XRP futures contracts on its derivatives exchange this Friday. The exchange, called Huobi DM, already supports Bitcoin, Litecoin, Ethereum and EOS futures.
The contracts will be weekly, bi-weekly and quarterly.
Huobi is ramping up support for XRP across its ecosystem. The company added the digital asset to its over-the-counter (OTC) trading platform for institutional investors on March 6th, joining Bitcoin, Ethereum, Tether, EOS and Huobi Token.
Meanwhile, Ripple is moving millions of XRP at a fast clip. In the last few days, the San Francisco startup transferred 43,544,116 XRP worth $13.4 million. One transfer of 33,544,116 XRP worth about $10.1 million appears to be Ripple selling a portion of its holdings to a third-party.
— Danny Knight (@danny_knight) March 27, 2019
Ripple owns more than 50% of the total supply of XRP, and regularly sells portions of its holdings over-the-counter to crypto exchanges and institutional participants.