Huobi Global Processed 121 Million Trades in October, Overtook Binance: Report

Huobi Global, the Singapore-based cryptocurrency exchange and Binance’s competitor, processed 121 million trades in October 2019 according to fact-finding mission by Shrimpy, a cryptocurrency exchange trading bot for automated portfolio management.
During that period, Binance processed 99 million trades, a figure that was lower than OKEx’s which had 100 million. On average, leading exchanges including BitBox, HitBTC, Huobi, and Gemini executed 28 million trades. The study was done to confirm whether Binance, as claimed by some studies, consistently executed 1.4 million trades a second.
Trade count data
Binance Processed 50 Trades a Second in October
Disproving the narrative, Shrimpy’s study authoritatively confirmed that contrary to popular belief perpetrated by previous unverified claims, Binance processed 50 trades per second in October, a figure so much lower than 1.4 million trades a second that was widely circulated and believed to be true.
Leading exchanges on focus managed a meager 175 trades a second, a number, Shrimpy’s research team said didn’t matter and that the 1.4 million trades a second mark all that important since traders tend to gravitate towards speed over throughput.
“Some traders require fast order execution. So, there is a benefit to having the ability to execute 1.4 million trades every second, even if Binance will never actually process that many trades in such a short amount of time.”
Speed over Trade throughput
For professional traders, speed is everything especially in the margin and derivative platforms allowing high leverage.
In October 2018, a study to determine order speed execution by Deribit, a cryptocurrency derivative platform, found that Binance’s order speed execution delay was 37.2 milliseconds. 1.1 percent of orders took over one second to fulfill with a mere 0.1 percent of orders being fulfilled within 10 milliseconds.
Regardless, Binance is still one of the world’s leading cryptocurrency exchanges by active trading volumes generating $834,580,496 in trading volumes in the last day.
Huobi Global Implicated
Huobi Global claims to be liquid and a high-volume exchange. However, critics claim that the exchange is most likely involved in volume manipulation tactics like Wash Trading.
A report by The Tie analyzed incoming traffic from Huobi Global account owners and determined that each trader, despite the relatively low trading volumes, traded 10X more than an ordinary trader in Binance. It concluded that less than 10% of the exchange’s spot trading could be genuine.
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Source: CoinGape

Huobi Enables Hourly Margin Interests, Celebrates IT With 24 Hours 0% Margin Interests

Huobi Global has announced the development of a new hourly margin interest model development. This will take effect from Friday, 28th June 2019 at 11:00 GMT+8.
According to their official announcement,
The calculation of margin loan interest will be adjusted from daily to hourly at 11:00 on June 28, 2019 (GMT+8). To celebrate it, Huobi Global will launch “0% Interest on Margin Trading” promotion for only 24 hours.
 0% Interest For 24 Hours
This news came with a special offering of a 0% interest on all hourly margin calculations from 11:00 on June 27 to 11:00 on June 28 (GMT+8). Users who participate in any margin loans can enjoy 0% interest on margin trading on Huobi Global.
However, If you have applied for any margin loans before 11:00 on June 27 (GMT+8), there will be no interest generated during the promotion, the announcement stipulated.
Also, If you apply for any margin loans after 11:00 on June 27 (GMT+8), there will be no interest generated during the promotion. At 11:00 on June 28 (GMT+8), all applied margin loans will generate the interest for the first hour.
Nonetheless, Huobi Global warned its customers who might be interested in this new development that “trading in digital assets comes with high risks due to huge price fluctuations. Before trading, traders, especially inexperienced ones, were enjoined to have a full understanding of all the risks of trading in digital assets and be prudent of your own decisions.”
Huobi Turkey 2020
More seem to be coming from Huobi recently. Apart from its new development on margin trading, Huobi also revealed plans of global expansion. Now, Turkey is the new target market. According to Huobi Global’s CEO; Livio Weng,
“Turkey is a very important and promising prospective market for us and we plan to take an aggressive approach to bring the Huobi ecosystem there,”
Huobi plans to include a fiat onramp for Turkish Lira, a branch office with local resources from Turkey and localized products and customer support. Huobi invites Turkish projects to apply for listing here:
At a Huobi sponsored event attended by traders, crypto enthusiasts and many blockchain professionals in Istanbul, Turkey, Weng added that the proposed Turkish arm of Huobi Global would be overseen by MENA.
Other Areas Of Possible Expansion
Apart from Turkey, Huobi is also looking to expand to other markets as well. Romania, being a major possibility at this time, Huobi was reported to have received an invitation of the Romanian government.
Speaking on the possibilities, Weng added,
“It’s unclear what changes blockchain will bring to the world but today we are all pioneers in the space,” said Weng. “Huobi is willing to work with you in charting a path into a promising future.”
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Source: CoinGape

Huobi announces launch of Huobi Prime, a premium token listing channel

Chinese crypto firm, Huobi, announced the official roll-out of Huobi Prime, a premium token listing channel, which will be released on 26 March 2019. With this feature, users will be able to trade in ‘high potential digital assets,’ before they are listed on the main exchange.
According to Leon Li, the Founder and CEO of the Huobi Group, it is aimed at accessing promising crypto assets at rates substantially lower than their market price.
The announcement stated,
“To foster fair price discovery, and to avoid potential risks brought to users by severe volatility, we will introduce ‘Price Limit’.”
According to a statement released by the group, users on its platform will have an investment cap of $1,000 in HT tokens, which boiled down to nearly 2,220 HT per sale, owing to the trading price, at press time.
The project can be compared to Binance Launchpad, with its main goal being to provide a platform for “transformative crypto projects.” Like the Launchpad, Huobi Prime plans to list the digital assets against its native token HT for trading.
In what may be an indication of the crypto-winter receding, trading platforms have opened up their roster to new and promising assets. In a similar roll-out, the Malta-based exchange, Bittrex, launched a token sale on its platform, in a bid to make the gaming system more transparent, with their first Initial Exchange Offering [IEO].
The latest Huobi feature comes a week after the crypto firm announced support for Tron [TRX] decentralized apps [DApps] on its multi-chain Huobi Wallet. The wallet currently supports Bitcoin, Ethereum, Tron, Bitcoin Cash, Bitcoin SV, XRP, EOS, Ethereum Classic, and Litecoin, as well as all ERC20 tokens and stablecoins.
The roll-out followed a month after the Chinese group’s Australian unit was shut down eight months into its launch, due to poor market conditions.
The post Huobi announces launch of Huobi Prime, a premium token listing channel appeared first on AMBCrypto.
Source: AMB Crypto

Crypto Market Update: Tezos Gets Huobi Listing, EOS Flips Bitcoin Cash

FOMO Moments
Crypto markets are still in decline; Bitcoin Cash, SV, still dropping, Tezos bounces back.
Crypto markets are still on the floor today as there has been no sign of even a minor recovery. The bears have kept the pressure on and prices are still sinking as total market capitalization continues to fall below $110 billion.
Bitcoin has slid back again falling close to $3,400, down 3% or so from a high of $3,530 it reached yesterday. BTC is down 11% from the same time last week when it traded above $3,800 and is dangerously close to hitting another 2018 low.
Ethereum is still flat with very little going on as it remains just below $90 for another day. The top ten is mostly in the red but losses are much smaller than previously. Bitcoin Cash has taken the biggest hit again of 3% as it slides into oblivion below $100. This has enabled EOS to flip it and take sixth spot with a minor gain on the day to $1.90. There has been very little movement for the rest of the altcoins in this section.
The top twenty is a mixed bunch of half red half green. Dash, Zcash and Nem are still falling back slightly but the big mover at the moment here is Tezos which has jumped 6% on the day. A listing on Huobi Global yesterday is driving momentum for XTZ.

Huobi Global launched $XTZ on 12 December 2018. @Tezos
For more information:
— Huobi Global (@HuobiGlobal) December 13, 2018

There are a couple of altcoins in the top one hundred getting a dose of fomo at the moment and they include TenX climbing 17% followed by Bitcoin Private and DEX up 14%, Waves also in double figures. Getting bashed today is Revain and Factom both losing around 12% at the time of writing.
Total crypto market capitalization has shrunk again today, falling marginally to $108 billion. Around $4 billion has been lost over the past few hours as markets did make a minor recovery late yesterday. Since the same time last week crypto markets have lost 12% and the downward pressure is still strong.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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Source: New