The broker's cryptocurrency suite now includes ETH/USD and LTC/USD.
HYCM, a multi-regulated global leader in online capital markets trading, has launched trading on two further altcoins, Ethereum and Litecoin, adding ETH/USD and LTC/USD to its expanding range of cryptocurrencies. The move follows the recent introduction of Bitcoin trading with the BTC/USD pair and follows unprecedented demand from clients.
The cryptocurrency economy has seen massive growth over the last few months with the price of Bitcoin having risen more than 300% year-to-date. Despite some recent volatility, Bitcoin has retained the majority of these gains with prices currently flying high around the $4,000 mark.
Ethereum prices meanwhile, have risen by as much as 5,000% percent since January 2017 as appetite for digital assets continues to grow. Ethereum, currently trading at around $324, is the second-largest cryptocurrency by market capitalisation and is worth $30.57 billion versus bitcoin's $68.84 billion valuation.
Litecoin prices have also climbed in recent times, currently taking the number six spot in the list of the world's most valuable cryptocurrencies. Presently trading against the US dollar at $47 with a $2.47 billion market cap, Litecoin is one of the few cryptocurrencies to have remained fairly stable during market volatility.
The recent boost in the market capitalisation of cryptocurrencies reflects the continuing interest in blockchain technology. Stavros Lambouris, CEO International for HYCM commented, "The decision to expand our cryptocurrency CFD offering follows the impressive returns recently generated and increased demand from our clients wishing to capitalise on their performance without needing to physically purchase them. HYCM is one of the first brokers to offer traders a range of cryptocurrencies, reinforcing our position as one of the industry leaders."
Notes to editors:
HYCM is a leading provider of online FX and CFD trading services to retail and institutional investors. With a 40 year operational history and a strong focus on client satisfaction and technological advancement, HYCM has become the online broker of choice for investors across the globe, providing access to a range of asset classes including currencies, commodities, metals, shares, indices and cryptocurrencies.
HYCM offers clients a complete trading solution together with all the trading tools and analysis needed to make informed trading decisions. Backed by its state-of-the-art trading platforms, including mobile app enabling clients to trade while on the go, HYCM has secured a strong industry reputation for delivering a trading experience that is second to none.
HYCM is part of the Henyep Capital Markets Group, an international conglomerate with businesses in financial services, property, education and charity and is multi-regulated by the Financial Conduct Authority of the UK (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Dubai Financial Service Authority (DFSA).
The company is represented globally with offices in United Kingdom, Hong Kong, Cyprus and Dubai.
Telephone: +357 25 24 5750