Data Reveals; Huobi Becomes Second Biggest Crypto Exchange
Huobi, a big crypto company, saw a rise in August trades as concerns over its USDT money eased. Only Binance trades more now.
Crypto company Huobi saw more trading in August as worries about its Tether (USDT) money got less.
Registered in Seychelles, Huobi had $25.8 billion in trades by the end of the month. It became the second-biggest in trading, data from CCData shows. Now, only Binance is ahead of Huobi.
In July, Huobi was only 14th in rank. But now, its place is higher because people are less worried about USDT money on Huobi. Some reports said Huobi's money went down a lot, making people doubt. Also, news said some Huobi leaders were taken by police.
But, Huobi said these stories were not true and called them 'FUD' (Fear, Uncertainty, and Doubt).
Numbers from DefiLlama showed Huobi’s USDT went down by $150 million in early August. By the end, it was just a bit less. Huobi said some numbers from DefiLlama were wrong.
Other data from CryptoQuant showed Huobi's USDT went up 73% in August, ending at $91.6 million. Huobi said the best numbers come from Nansen and they are fixing mistakes with DefiLlama.
Tron's CEO, who helps Huobi, told people to not believe the false stories last month
