Huobi recorded $483M trading commission in 2018, exceeding Binance and OKEx

24 Jan, 2019 | Updated: 24 Jan, 2019
by Fifi Arisandi
Huobi recorded $483M trading commission in 2018, exceeding Binance and OKEx

Amidst struggling rumor, Huobi earned $483 million from trading commission in 2018, exceeding Binance and OKEx that came right after.  

Despite the staff layoff confirmation made by the company’s spokesperson just before the year ended, Huobi is said to gain $483 million from trading commission during 2018.

Read more: Huobi set to follow Bitmain with staff layoffs following extended bear market

The claim was made by a commodity specialist in the Chinese virtual market, Hwaseong Jae Kyung that said Huobi earned KRW 545.2 billion ($483.9 million) in commission, exceeding Binance that earned $463.9 million and OKEx with “only” $293.4 million, as quoted by Sludge Feed.

Although no confirmation made by the exchange regarding their earnings, the number seems to make sense, considering the official announcement made by their CEO, Livio Weng about the trading volume on their new derivatives market platform last week.

As reported by Chepicap earlier, Weng confirmed that their platform has recorded a cumulative trading volume of $20 billion in less than 2 months from its launching.

Read more: Huobi's new crypto derivatives market has more than $20B of trades

On Coinmarketcap’s list of exchanges based on trading volume, Huobi is ranked at the 5th position, recording $288,517,214 of daily trading volume.

The Huobi Token (HT) itself is on the 70th position of the coin by market cap list, with $52,521,634 market capitalization and price hovering at $1.05.

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