Huobi Made A Whopping $483 Million in Commissions in 2018

Huobi Global, the third-largest crypto exchange by trading volume has left Binance and Okex behind in terms of earned commission in 2018, raking in a whopping $483 million.

The South Korean crypto exchange giant has always been at the forefront when it comes to various crypto trading volumes, and the recent reports are just a confirmation of the fact of how well the exchange has done over the past years.

The report of Huobi making almost half a billion in commissions first featured in the South Korean media outlet, SporBiz. The media report sights Hwaseong Jae Kyung, a commodity specialist in the Chinese virtual money market, Huobi earned 545.2 billion won ($483.9 million) in commission income last year, surpassing both Binance ($463.9 million) and OKEx ($293.4 million).

Huobi’s New Derivatives Market Brings In Trading Volumes Worth $20 Billion

Although the figure of $483 million is unconfirmed but based on the data shared by Huboi’s new derivatives market, also known as Huobi DM, the figure seems legit.

The Huobi DM has already surpassed the $20 Billion trading volume till date, which was launched towards the end of 2018. The new Huobi derivative currently offers long and short positions for Bitcoin(BTC), Ethereum(ETH), and EOS.

Apart from its recent achievements of the highest magnitude, Huobi has also announced that it will be supporting BitTorrent Token(BTT) and airdrop the same for TRON holders next month.

Huobi confirmed the same in a tweet which said,

“#Huobi Global will support #BTT #airdrop to #TRON (TRX) Holders. #Deposit your #TRX tokens before block height 6,600,000 on the #TRON blockchain (estimated to occur on 11 Feb) to receive your BTT airdrop!”

The native Huobi token (HTT) was trading flat against the US dollar at a value of $1.04 at the time of writing, which takes the total market cap of HTT at a healthy $52 million market cap.

Final Thoughts

The recent report of Huobi making half a billion in commissions can boost the position of the exchange further up and it could give a good fight to the top two contenders Binance and OKEx. Huobi’s success story can be attributed to a great developer community which brings in necessary updates from time to time.