Huobi, one of the world’s biggest crypto exchange says $877.8 billion has been traded on the platform in the last six months.
“For Q1, the unilateral trading volume was $444.2 billion while Q2 was $433.7 billion,” they say.
Perpetual swaps account for much of it, with the exchange claiming they keeping up or even overtaking Bitmex, stating:
“In its first full quarter, Huobi’s perpetual swap trading volume came in at $21.65 billion in April, but rocketed up to $79.5 billion the next month, falling just short of BitMEX’s trading volume. Then, in June, Huobi overtook BitMEX with a total of $50.2 billion.”
They also have futures, with some $100 billion traded in April and May, while June saw $75.05 billion traded.
In addition, “Huobi has far outperformed OKEx in BTC Weekly contracts trading in Q1 as through April, May and June Huobi more than doubled the trading volume against its competitor,” they say.
They also claim better performance in market depth, as in how many bids and asks are in the market at any time, with the exchange performing some half a billion in trading volumes a day.
The originally China based crypto exchange has long been accused of faking volumes, which they deny.
There is huge bot activity however with prices there moving a lot faster, but that adds liquidity and market depth, so leading to these huge trading volumes.