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Huobi Launches Token Sale Platform to Let Investors Sample Pre-Release Altcoins

The platform should go live March 26, Huobi executives say, and will be available for both major and private investors.

Singapore-based cryptocurrency exchange Huobi Global is launching a dedicated platform for pre-release token sales, the company confirmed in a blog post on March 20.

The platform, dubbed Huobi Prime, aims to give participating investors access to new altcoin tokens before they appear on major exchanges.

Prospective projects will go through a vetting procedure, with successful applicants offering tokens to investors via three 30-minute flash sales, the blog post outlines.

Huobi Prime is geared to both large and small investors, with individuals subject to a maximum $1,000 investment cap.

The cap will be applied in terms of the native Huobi Token (HT), which will be the sole trading partner for new tokens on offer.

“We’ve designed it from the ground up to be a more innovative, direct, and responsive way to access up and coming new tokens,” CEO Leon Li commented in the blog post, adding the decision to create the product was in part due to customer demand.

Huobi named the launch date for the first token sale as March 26.

The move comes amid changes at the exchange as executives seek to absorb the impact of the ongoing price suppression in crypto markets. As Cointelegraph reported last month, Huobi restructured its eight-month-old Australian spin-off to cut costs, also revealing recent redundancies among staff.

A similar tale has unfolded at other major crypto industry firms, including mining giant Bitmain and Ethereum (ETH) blockchain developer ConsenSys.

Huobi Prime follows the precedent of major crypto exchange Binance. The exchange’s token sale platform Launchpad hosted the high-profile token sale for the Tron-based BitTorrent token (BTT) this January, followed by another public token sale for AI and smart contract project Fetch.AI in February.

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Google Deletes Crypto Malware Targeting Blockchain.com, MyEtherWallet Users

The malicious Google Chrome web extension was tied to a fake token airdrop from cryptocurrency exchange Huobi.

A Google Chrome browser extension tricking users into participating in a fake airdrop from cryptocurrency exchange Huobi claimed over 200 victims, a security researcher reported in a blog post on March 14.

The extension for Chrome web browser, with the name NoCoin, gained 230 downloads before Google deleted it, according to Harry Denley, who runs cryptocurrency scam database EtherscamDB.

Denley noted that hackers had purposely disguised the malicious extension to look like a tool protecting users from cryptocurrency malware or so-called cryptojacking.

“From the start, it looked like it did what it should — it was detected [sic] various CryptoJacking scripts […] and there was a nice UI to let me know it was doing its job,” he explained in the blog post.

Behind the facade, however, it became apparent the extension requests the input of private keys from popular wallet interfaces MyEtherWallet (MEW) and Blockchain.com. Private keys are then sent to hackers, who can empty wallets of holdings.

The extension lay at the end of a fake giveaway campaign, ostensibly from crypto exchange Huobi, which offered worthless ERC20 Ethereum network-based tokens to unwitting consumers.

It is unknown how long the extension remained available for Google Chrome users.

As Cointelegraph continues to report, bad actors targeting cryptocurrency users have sought increasingly nefarious methods of tricking novices into handing over access to funds. Just this week, a report identified cryptojacking as a sign of increasingly discreet behavior among hackers.

Google itself has come under fire for its own apparent lack of diligence in the past, in February pulling a fake version of popular decentralized app MetaMask from its Play store.

As Cointelegraph reported last month, users of cryptocurrency wallets Electrum and MEW were also facing phishing attacks, according to posts published on Reddit and Twitter.

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Cryptocurrency Exchange Huobi Adds XRP Support to its OTC Trading Platform

The peer-to-peer over-the-counter branch of Chinese cryptocurrency exchange Huobi has added support for Ripple.

The peer-to-peer (p2p), over-the-counter (OTC) branch of Chinese cryptocurrency exchange Huobi has added support for Ripple (XRP). The company announced the news in a press release shared with Cointelegraph on March 6.

XRP joins Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Eos (EOS) and Huobi Token (HT) in the list of assets supported by Huobi’s OTC trading platform.

According to the company’s website, Huobi OTC aims to offer an exchange bridge between fiat currencies and digital assets. Specifically, the platform serves as an escrow to users who post buy or sell ads on the platform and then complete transactions exchanging crypto and fiat currency.

Livio Weng, the CEO of Huobi Global, is quoted in the press release as stating that the Huobi OTC platform is important to the company as a whole because it’s Huobi’s main onramp and “main platform for users who prefer peer-to-peer trading.”

Huobi Global is currently the world’s eighth largest crypto exchange by daily trade volumes, seeing $738.6 million in trades on the day to press time.

As Cointelegraph reported in February, in an analysis about crypto OTC desks, institutional investment is increasingly being seen as the future of crypto trading, with both Binance and Bittrex launching their own dedicated OTC desks in January.

Also in February, news broke that South Korea’s major virtual currency exchange Bithumb has officially launched an OTC trading desk under its Ortus brand.

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XRP to Launch on Huobi OTC Today, March 6th

The team at Huobi’s OTC (Over The Couter) trading desk have announced that they will be launching XRP trading today, March 6th at 10am (UTC + 8). The tweet making the announcement can be found below.

Trading Fees for XRP on Huobi OTC

The exchange went on to give the following fee schedule when buying XRP using different global fiat currencies.

How to Purchase Digital Assets Using Huobi’s OTC Services

Traders and investors willing to use Huobi’s OTC services need to take the following steps;

  1. Visit Huobi OTC homepage at otc.hbg.com
  2. Users with existing accounts need to simply log in. Those who do not have accounts with Huobi need to sign up
  3. Select the digital asset you want to trade, choose price and the payment method and click ‘Buy’
  4. Enter the total/amount you wish to trade and click ‘confirm’
  5. Confirm the total and payment order then wait for the seller to release the digital assets
  6. After the digital assets are released, the transaction is complete

Market Performance and Community’s Faith in XRP

XRP is currently ranked third with a market capitalization of $12.998 Billion. Ethereum is slightly ahead with a market cap of $14.566 Billion. In terms of USD value, XRP is still oscillating around the 30 cents range. It is currently valued at $0.31 as we close the first week of March.

However, XRP’s stagnation in value despite being listed on Coinbase, has not deterred avid investors and fans of the remittance coin. Further checking Twitter, we find that the XRP community continues being active and optimistic that the utility of the coin will eventually mirror its value in the crypto markets.

One twitter user by the name of @WeitseWind noted that 60 people had already registered for an XRP Community meetup that is scheduled for April 20th. This is impressive considering the event is approximately 7 weeks away. His full tweet can be found below.

What is your opinion on Huobi OTC adding support for XRP? Does this reflect a demand for buying and holding XRP for the long term? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post XRP to Launch on Huobi OTC Today, March 6th appeared first on Ethereum World News.

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TradingView Adds Support for Huobi’s HB10 Crypto Index

Financial trading charts platform TradingView has started listing Huobi’s HB10 crypto-based index tracker.

The HB10 cryptocurrency-based index from major crypto exchange Huobi has been listed on TradingView, a major financial data and analysis platform for traders and investors. The news was announced in a Huobi press release published on Mar. 4.

HB10, which represents a fund that comprises the nine leading digital currencies in terms of trading volume, was launched last year through the Huobi Pro platform. HB10 reportedly aims to “help users attain exposure to the digital assets market with a relatively small capital outlay and also provide users with greater diversification across constituent coin trading pairs.”

Per the recent announcement, along with the support of HB10, TradingView has also added all of Huobi’s coin-to-coin trading pairs. This will purportedly enable users to get involved in arbitrage and other forms of trading.

Livio Weng, CEO of Huobi Global, has suggested that the step signifies further adoption of cryptocurrencies, saying that “this is just the beginning. As additional coins and pairs are added to Huobi Global, they will also appear on TradingView as well.”

Last month, Huobi Global launched support for Tether (USDT) — an Ethereum (ETH) blockchain-based stablecoin tied to the U.S. dollar. Huobi thus started offering deposit and withdrawal services for USDT in both its original Bitcoin (BTC)-based Omni Layer Protocol and its more recently launched ERC20 token form, which is built on the Ethereum blockchain.

Prior to that, Huobi.com, the United States-based partner of Huobi, launched fiat–crypto trading services, with initial support for three U.S. dollar–crypto trading pairs, which are major cryptocurrencies BTC, ETH and USDT, as well as support of U.S. dollar deposits and withdrawals.

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Crypto Exchange Huobi Adds Support for Ethereum-Based Tether

Major crypto exchange Huobi Global has launched support for the Ethereum blockchain-based version of stablecoin Tether.

Huobi Global crypto exchange has launched support for the Ethereum (ETH) blockchain-based version of USD-pegged stablecoin, Tether (USDT), according to a press release published on Feb. 27.

Starting today, Huobi will offer deposit and withdrawal services for major stablecoin Tether in both its original Bitcoin (BTC)-based Omni Layer Protocol and its more recently launched ERC-20 token form, which is built on the Ethereum blockchain.

Launched in 2014, Tether aims to allow users to trade and transact traditional fiat currencies on the blockchain. Tether has two tokens, USDT and EURT, purportedly pegged 1:1 to fiat currencies, USD and the euro, respectively.

Tether announced support of the Ethereum blockchain in January 2018, enabling users to operate USDT and EURT tokens compatible with the ERC20 standard.

According to Huobi’s press release, ERC20 Tether “has a much smoother and faster deposit/withdrawal process, […] which is an advantage for institutional traders and others who prized speed.”

The Ethereum-based token also enables interoperability within Ethereum-based protocols and decentralized applications, while also reducing transaction fees and confirmation time. According to official data from Tether’s blog, the ERC20 version of Tether operates 15-30 seconds faster than the version running on the Bitcoin-based Omni Protocol.

Huobi CEO Livio Weng said that the launch of ERC20 Tether on the platform intends to simplify the trading experience for both retail and institutional traders.

Created in 2012, the Omni Layer was formerly known as Mastercoin, a digital currency and communications protocol based on the Bitcoin blockchain.

Recently, the Enterprise Ethereum Alliance (EEA), a global blockchain community with over 500 members, announced the launch of a token task force, aiming to contribute to entreprise tokenization focusing on support for ERC20 and ERC721 tokens.

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Huobi Group To Launch a One of a Kind Exchange Dedicated to EOS

The Huobi Group’s cryptocurrency mining arm of Huobi Pool, will launch its first exchange in the first quarter of 2019. The exchange will be one of a kind in that it will be fully dedicated to EOS (EOS).

Cao Fei, Huobi Pool’s CEO, had this to say about their new venture:

As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities.

Launching this EOS exchange is simply the next logical step in our support.

How it Will Work and Huobi Pool’s Efforts in the EOS Ecosystem

According to the team at Huobi, the new exchange will allow users to trade EOS against several other cryptocurrencies. The plans to launch the exchange come after Huobi Pool’s collaboration with the EOS community and EOS block producers to build an EOS test chain where EOS-based projects can be tested. This test chain is known as the Crypto Kylin Testnet.

Huobi Pool has also developed a voting platform for the EOS community. It has also spearheaded efforts of making EOS holders more aware of node elections.

EOS’ Market Performance

Further looking at coinmarketcap.com, we find that EOS is currently ranked 5th with a total market cap of $2.4 Billion. It is currently trading at $2.61 and down less than a percentage point in the last 24 hours. With the new year only a few hours away, there is renewed optimism that 2019 might be the year the crypto markets bottom out of the current bear market.

What are your thoughts on Huobi launching a crypto exchange dedicated to the EOS network? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Huobi Group To Launch a One of a Kind Exchange Dedicated to EOS appeared first on Ethereum World News.

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Huobi to Launch Company’s First Exchange Dedicated to EOS in Q1 2019

Huobi plans to launch the company’s first crypto exchange — dedicated to EOS — in the first quarter of 2019.

Huobi Group plans to launch the company’s first cryptocurrency exchange — which will be dedicated to EOS — in the first quarter of 2019, according to a press release sent to Cointelegraph on Dec. 29.

The exchange will be reportedly launched by Huobi Pool, the group’s cryptocurrency mining arm. Cao Fei, the CEO of Huobi Pool, described the launch of the EOS exchange as “the next logical step in our support” as an EOS Block Producer (BP).

The release states that the exchange will allow clients to trade in the altcoin EOS against several other cryptocurrencies.

Huobi is currently the third-ranked crypto exchange based on the volume on CoinMarketCap, with around $774 million in 24 hour volume at press time.

As Cointelegraph reported, the exchange recently also announced support for EOS on its derivative market. The daily traded volume on Huobi’s cryptocurrency derivative market also reportedly recently broke $1 billion.

The company’s derivative market had been launched only about a month before, at the end of November. The advantage that the company stressed when presenting the market at the Cryptofrontiers conference is that it allows customers to take both short and long positions.

EOS has been repeatedly criticized for alleged centralization. Recently, Starteos, one of EOS’ BP’s, appeared to publically offer its token holders financial rewards in return for their votes. There have also been investigations in the EOS ecosystem after Huobi was accused of running a corruption scheme.

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Daily Traded Volume on Huobi’s Crypto Derivatives Platform Breaks $1 Billion

Daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market has broken past $1 billion.

Daily traded volume of cryptocurrency contracts on the Huobi Derivatives Market (DM) has broken past $1 billion, according to a press release shared with Cointelegraph on Dec. 27.

Huobi Global — which operates the world’s third-largest largest crypto spot market trading platform — launched Huobi DM last month. The new platform allows traders to trade Bitcoin (BTC) and Ethereum (ETH) contracts that aim to allow for arbitrage, speculation, and hedging.

Having reportedly broken past $1 billion in daily trades on Dec. 25, Huobi DM is today expanding its crypto contracts offerings to include altcoin EOS. Huobi claims its crypto contracts help market participants control risk and uncertainty via price limit mechanisms and supervision tools that allow traders to monitor contract and index prices and positions in real time.

Livio Weng, Huobi Global CEO, has emphasized that the offerings aim to engage those who wish to control risks in a volatile trading climate. According to the company, Dec. 25 saw strong engagement on both the newly-launched DM platform and Huobi’s flagship crypto exchange; their combined daily traded volume was purportedly $2 billion.

Huobi DM’s launch comes at a moment when trading volumes across various exchanges are reported to have fallen dramatically.

A recent study from weekly crypto outlet Diar claimed that data sampled from across eight leading crypto exchanges  — Binance, OKex, Huobi, Bitfinex, Kraken, Poloniex, Bittrex and HitBTC — showed that 60 percent of the still-listed cryptocurrencies are now trading at lower volumes than in January. Over 20 percent of these were seeing less than 90 percent of the volumes they saw during January’s crypto market bull run.

Moreover, controversies continue to beset the accuracy of reported daily traded volumes.

A recent report from the Blockchain Transparency Institute (BTI) claimed that the majority of the top 25 Bitcoin (BTC) trading pairs listed on CoinMarketCap (CMC) are based upon highly inflated false volumes, showing evidence of malpractices such as wash trading. Huobi — alongside HitBTC, OKEx and Bithumb — were among those exchanges implicated in the researchers’ findings.

This summer, CoinMarketCap implemented major changes to its crypto exchange listings method in light of concerns over skewed trade volume data.