Huobi CEO Addresses 'Fake' Trading Volume Rumours
Rui Ma is an early-stage investor in technology companies with the global accelerator program and seed fund 500 Startups. Residing in Beijing, she is an active member of China's bitcoin community. Some bitcoiners might still remember when BTC China was the dominant bitcoin exchange in China. Well, those days are long gone. These days, newer exchanges Huobi and OKcoin regularly top the charts for trading volume. Monday, for example, their 24-hour volumes are at 106,942 and 126,973 respectively, third-place CHBTC is at 35,349, while BTC China lags far behind at 4,344. Huobi, in particular,....
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Leon Li, CEO of China's leading bitcoin exchange Huobi, recently recalled how China's central bank ban sent shockwaves through the bitcoin world at a meet-up in Garage Café, Beijing. Addressing an audience of around 300 people, Li (also known in China as Li Lin) recounted how his site's trading volume spiked so rapidly on the night of 16th December that the visiting traffic easily maxed out the exchange's servers. Even though Li and his colleagues pulled two all-nighters to process the large amount of requests for cash withdrawals, rumours abounded that Li was a scammer who had already run....
While everyone was preoccupied with bitcoin price drops after last Friday's 'fake Chinese bitcoin ban' news incident, something even more dramatic was happening at China's largest exchange, Huobi, and its new litecoin trading system. A 'flash crash' on the exchange saw the price plunge to just 1 RMB (Chinese yuan) a short time after a hoax news report of a complete government ban on digital currencies was posted on microblogging site Sina Weibo and reported by Sina's financial news service. The number of trades executed at that price is unknown, as is the total amount of money lost -....
Litecoin recorded a 35% and 28.6% profit in the 1-hour and 24-hour charts, respectively, after major mainstream media websites reported a fake LTC integration into Walmart e-commerce stores. According to the fake press release, the company was going to allow its “millions of shoppers” to leverage crypto payments with LTC. The fake Litecoin integration was […]
The daily bitcoin trading volumes come out into billions of dollars every day, with hundreds of thousands of daily transactions being carried out. It is one of the reasons why bitcoin draws the most investors, given such high trading volume and good depth across all exchanges. However, some on-chain analyzers have been diving into the blockchain to explore the daily BTC volume, and the findings of this study have been alarming. More Than 50% Fake Volume Mostly, in the present market, there is always some amount of volume for digital assets that are actually fake. These fake trading volumes....
Huobi Futures has seen significant demand over the last year with its annual trading volume ranks first globally. Open interest and trading volume have been soaring, and new user registrations are increasing by the day. To share the runaway success with the cryptocurrency community and to contribute towards growth across the ecosystem, Huobi Futures has made its “Invite Friends” partnership program even more lucrative than before with a transaction fee rebate increase. Here’s more about […]