What Does Huobi 30x Mean
What does Huobi 30x mean? On September 6th, Huobi announced that it will launch
What does Huobi 30x mean? On September 6th, Huobi announced that it will launch 30x (perpetual contract), and the specific details are as follows:
1. Starting from September 7th, 2020, whenever you trade on the Huobi platform, you will receive an order of 30 bitcoins. If calculated at a price of 1 BTC = 130,000 USDT, these 30 bitcoins are equivalent to 37,000 RMB.
2. Since May 2019, within 30 days after the expiration on every Friday, all unclosed positions will be automatically deducted.
So what does 30x mean? What does Huobi 30x actually imply?
According to the official explanation: Since 10x refers to a delivery date of 30 days, 30x can be understood as the time introduced by the exchange. It means that all normal working hours end on the opening day, which means that users can no longer continue to hold the product and can only participate in market operations through withdrawals. At the same time, 30x also means “no selling” because it will convert the assets into other digital currencies for hedging and arbitrage, but this method does not utilize the quantity of 30x, but instead uses 20x or 50x depending on the actual situation.
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