Huobi crypto exchange stands out on volume despite rumors

While the trading volume on crypto exchanges a globally decreased this summer in a low-volatility marketplatform Huobi displays a higher volumedespite several rumorsincludinginsolvency.

In mid-July trading volume on the Chinese crypto exchange – now based in the Seychelles -. Huobi a noticeably increased and held steady during August, according to crypto data expert Kaiko.

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It’s been a summer of low volatility and low volume, which has strongly impacted the fortunes of many crypto exchanges. Yet one major exchange has resisted this trend: Huobi,” wrote Kaiko on Monday in a market analysis.

The rise of volume on Huobi enabled the Justin Sun-backed company to increase its market share. market share from 3 à 19%.

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And the level held steady this month despite Huobi recently being plagued by rumors of insolvency. There were also reports that several of its executives had a bone to pick with the Chinese authorities. By this time, the platform had recorded capital outflows significant.

It’s interesting to note that the negative press has had virtually no impact on trading volume, which has remained virtually stable since mid-July,” said Kaiko, noting that it had, however, observed wash trading potential on the exchange over the past month.

Facing its main rivals Coinbase and Binance, Huobi has stood out on volume since the beginning of July.

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As the chart above shows, Binance saw its market share shrink this summer, while the number 1 in crypto-trading is now facing major challenges, not least regulatory.

On Huobi altcoins account for the vast majority of the volume. “No digital coin claims a dominant market share,” the blockchain data expert clarified.

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