- Singapore-based Huobi DM adds Litecoin to the list of tradable products along with BTC, ETH and EOS.
- LTC/USD resumes the decline amid the strong sell off on the market.
Singapore-based digital cryptocurrency exchange Huobi Derivative Market announced support for Litecoin (LTC) contracts. The asset is available for trading as of January 25 with the delivery fee 0.5% and an open/close fee 0.2-0.3%
Litecoin is the fourth digital asset that made its way to Huobi DM, along with Bitcoin (BTC), Ethereum (ETH), and EOS.
According to the official information provided on the company’s website, the minimum margin leverage will vary from 100% for 1X leverage to 5% for 20X leverage.
Users can trade until the last 10 minutes before the delivery, wherein they can only close their positions.
“Litecoin is one of the biggest of the altcoins on the market today, and we’ve seen quite a bit of demand for it by our users. We’ll be adding more coin types to the platform as 2019 progresses, with Ripple [XRP] next on our list,” Livio Weng, the CEO of Huobi Global, commented.
Litecon got a short-lived boost on Friday; however, the coin failed to hold gains and resumed the downside over the weekend. LTC/USD is changing hands at $31.21 at the time of writing, losing over 4% on a day-over-day basis and about 2.5$ since the beginning of Monday.
While the trigger behind the sell-off is not readily available, it is worth noting, that Litecoin follows the trend of the broader market where Bitcoin and all major alt coins are deep in the red.
LTC/USD, the daily chart
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