Home Huobi Exchange Balances And Trading Dwindle

Huobi Exchange Balances And Trading Dwindle

Share
Share

Huobi Exchange Balances And Trading Dwindle

Will Woo, a notable crypto analyst, highlighted the status of affairs at the Huobi exchange on July 5, and they do not look good.

According to charting expert Woo, the 2013-registered Huobi is in a poor state, comparing the exchange to a “train wreck.”

“The Huobi exchange appears to be a slow-moving train wreck nearing its final throws.”

Woo stated that since 2020, collateral has been emptying off the troubled exchange.

He stated that Huobi’s Bitcoin balance had decreased from 410,000 BTC in 2022 to only 26,000 BTC this week. This indicates a 93.6% decrease in Bitcoin exchange reserves.

Huobi’s web traffic and engagement have decreased from 30 million visits in March to 7.2 million in May. Due to global regulatory pressure, the exchange has been forced out of several countries, with most visitors coming from just four. CoinGecko ranks Huobi 18th in daily volume with $368 million, with 608 tokens and 722 trading pairs, with BTC/USDT accounting for 27% of its total volume.

(With inputs from Shikha Singh)

Share

Latest News

Grayscale Ranks Top 10 Crypto Tokens By Yield As HYPE & CAKE Lead
News

Grayscale Ranks Top 10 Crypto Tokens By Yield As HYPE & CAKE Lead

HYPE leads tokenholder yield at 8.0%, followed by Lighter (LIT) at 7.9%, according to Grayscale’s rankings. CAKE tops adjusted earnings yield at...

Circle Shareholder Sues Trump Over $2.5B In UAE-linked Crypto Deals
News

Circle Shareholder Sues Trump Over $2.5B In UAE-linked Crypto Deals

A Circle shareholder has filed a lawsuit against Donald Trump related to two cryptocurrency deals connected to the United Arab Emirates. The...

BNB Chain Sets October 28 Date For Jenner Hard Fork: 3 Key Changes
News

BNB Chain Sets October 28 Date For Jenner Hard Fork: 3 Key Changes

BNB Chain’s Jenner hard fork is set to take place on October 28, 2026, on the BNB Smart Chain testnet. Payment Lane...

Bybit Secures Full Dubai License To Offer Regulated Crypto Services
News

Bybit Secures Full Dubai License To Offer Regulated Crypto Services

Cryptocurrency exchange Bybit has obtained a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). It is...

Related Articles

Reasons Why The U.S. Tops AI Agent Commerce

The concept of agentic commerce where agents can purchase digital services and...

Do You Need A Cryptocurrency Trading Bot?

The crypto market never closes. Bitcoin can move while you are sleeping,...

How To Use Dexscreener To Find Crypto Gems

If you have ever looked at a new crypto token and wondered...

How To Build AI Agents From Scratch

Artificial Intelligence (AI) is no longer just about answering questions since AI...