Huobi — From Founding to Maturity
With 274 currencies, Huobi has accumulated more than US$1 trillion in transactions, accounting for around 50% of global digital asset trading and serving millions of users in more than 130 countries around the world. The Huobi exchange is one of the three major exchanges in China and the world’s leading digital asset financial services platform.
Founding
2013 is a special year for Bitcoin. At the beginning of 2013, the value of Bitcoin was $13, while at the end of 2013, Bitcoin was valued at $811. Its growth rate reached more than 6,000% that year. With changing attitudes from various governments, the price of Bitcoin experienced extreme ups and downs in that year. Still, it still attracted many speculators. Because of the volatility of Bitcoin, the founders of Huobi saw business opportunities. Then, Huobi was founded in the same year.
Developing
In September 2013, Huobi announced that it would permanently waive the transaction fee on the platform transaction.This move by Huobi increased the trading volume of the Huobi to ¥ 10 million in October.
In April 2015, Huobi established the Blockchain Research Center and the” Digital Asset Research Project” with Tsinghua University, which became a milestone in the history of China’s digital currency industry.
In April 2018, the Huobi Mine Pool joined the EOS SuperNode. On July 3, Huobi jumped to the first position in EOS trading. However, suspiciously, Huobi did not opened the EOS withdrawal function at that time.
In June 2018, Huobi started the construction of the blockchain financial public chain plan, and took out 30 million HT as the starting assets for the development of the public chain. It also continued to inject funds to fully guarantee that the public chain became the best kind in the global industry. At the same time, Huobi held a global leader campaign for the public chain, attracting a large number of industry elites to participate.
The Huobi exchange also focused on user satisfaction. The site offers Bitcoin RMB spot trading and Bitcoin USD spot trading. The Huobi trading lightning hand for traders, tailor-made short-term trading tools provide 20 real-time transaction records per second of 20-discount, 0-delay lightning trading. With the support trading window and market window split-screen display, users can easily conduct a market chart analysis.
Maturity
The development of the blockchain industry has brought opportunities to Huobi. In terms of China’s blockchain financing scale, the volume of total financing in 2013 was only ¥0.174 billion and has climbed to ¥1.358 billion in 2017, with an average annual growth rate of 50.81%. The pool of financing continues to expand, which requires the support of the platform. As a result, the trading platform of Huobi has also been established on a global scale.
industry research, industry information, blockchain services, Huobi Global Eco-Fund, Huobi Labs and other businesses have also expanded. The compliance service teams expanded in various countries and regions such as Hong Kong, Thailand, Australia, the United Kingdom and Luxembourg.Since then, Huobi has drawn a huge territory on a global scale.
Despite the fast development of Huobi, from March 2018 to April 2018, the Huobi network was in a state of intermittent services for a full month. Users reported that the Huobi leverage system abnormally explodes when they invest in the Huobi plus leverage, including empty orders. The response email from the customer service website of Huobi said that the leverage will be adjusted according to market conditions, and there is no need to solve the problem. Therefore, many users have lost confidence in Huobi. The outbreak of a series of events also indicates that the development of Huobi has encountered a technical bottleneck.
On the evening of August 21, 2018, Huobi consultation, Jinse finance and other blockchain media public account was banned because of violations of media rules. This is the first shot of the government’s control of Chinese blockchain industry. What does Huobi do with this? We shall wait and see.
