Huobi is adding ETH on May 31st
Nobody expected new pairs to be added now that people still cannot withdraw coins from Chinese exchanges.
Huobi announced an announcement this morning (fluffypony style!), the actual news came soon after from @cnLedger.
Many had high hopes for the withdrawal situation update – but it’s “just” ETH trading.
Huobi has millions of users in China. Up to now none of the "big 3" listed any coins except BTC & LTC. Many CN traders are unaware of ETH https://t.co/Wdd8sE8WuG— cnLedger (@cnLedger) May 27, 2017
People still cannot withdraw coins from major Chinese exchanges but the BTC and LTC premium started diminishing on rumors the withdrawals might be resumed in June.
There was a letter shared via @cnLedger saying the exchanges were not asked to suspend withdrawals, that they did that on their own accord:
PBoC reply to BTC user: we did not ask trading platforms to suspend w/d. It was a decision made by themselves. The inspection has not ended. pic.twitter.com/mi3IxXR93g— cnLedger (@cnLedger) May 25, 2017
…Surely they were asked nicely.
Either way, Huobi is the first major exchange to list ETH. That could mean a boost for the coin as new wave of speculators (and bots) chimes in. Don’t forget more than 50% of the volume on the now-zero-fee Japanese exchange Bitflyer is done by three monster-bots only - the volatility there was insane.
OkCoin had a big announcement too this week as they announced the migration to a new platform OKEx (coins-only, no fiat hence possibly less intervention) but no word about new altcoin implementations.
Disclosure: This article is not sponsored by anyone in any form.
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About the author
Written by KarlVonBahnhof
KarlVonBahnhof also on Reddit, Chris belongs to the crypto trader class of 2013. Located in the Americas most of the time, you're most likely to meet at r/BitcoinMarkets though.
Opinions are author's own.
Author | Filed under Blog | Tickers: ETHUSD, ETHBTC