7 Years Of Huobi: Huboi Bitcoin Trading Volune

This is an entry for the Huobi contest to celebrate the 7 year anniversary of the Huobi site

Now that Bitcoin has broken it's all time high popular exchanges like Huobi are in a great position as attention might come back to cryptocurrency is a big way. This means the volume will pick up for trades that are made and the value of the coins that are traded are worth more . This will bring more value to the Huobi token which is tied directly into the exchange itself. There is a lot of money flying around during a bull run and if it is like 2017 this could be a crazy year coming.

Lets Look At Volume

Over the last 24 hours since Bitcoin broke the 20k mark there has been over 12 billion dollars worth of trading volume on Huobi alone. Since there are fees to use the site this is a lot of revenue for Huboi and as they use 20% of that revenue to help support the Huobi token that is a lot of money being used for the coin. This can go up from here if Bicoin continues to go up and from the looks of things it might do so for the months to come (with pullbacks and corrections along the way of course)

Ethereum Trade Heavy As Well

According to coin market cap there is over 4 billion dollars or ethereum being traded as well over the last 24 hours. When you add this up with Bitcoin you really start to see the numbers that exchanges can achieve when things explode.

Will This Grow From Here?

The question is will this only get bigger? Huobi has some of the most volume in all the cryptocurrency exchanges out there and if Bitcoin breaks higher it is posed to do well in this market. It is too early to tell where Bitcoin is going as there is no ceiling anymore but so far it is looking very bullish for the coin. A break above 25k or more could see more coverage in the mainstream but this time a lot less talk of tulips and bubbles.

Volume is the driving force of an exchange's success and it should be tied to the value of the coin that an exchange launches. Huobi has both volume and a plan to bring value to their coin with the money they make from the fees of their trades. It could be a big year in 2021 so keep an eye on the volume of the exchanges you invest in.