<span style="font-weight: 400;">Singapore-based cryptocurrency exchange, <a href="https://www.cryptoknowmics.com/news/bma-asks-court-to-preserve-bitmexs-email-data/">Houbi</a>, has reported $877.8 billion worth of trading volume in the initial 6 months of 2020.</span>
<h2><b>Houbi Stays Untouched Despite a Slow Market</b><span style="font-weight: 400;"> </span></h2>
<span style="font-weight: 400;">The second quarter faced a major market drop but its trading volume almost matched Q1’s unilateral trading of $444.2 billion with its own trading volume of $433.7 billion on Houbi, barely reporting any drop in the transaction volume.</span>

<span style="font-weight: 400;">It is interesting to find that Q2 matched the first quarter despite the major collapse in the market given the fact that the first quarter was seemingly a good one for cryptocurrency trade.</span>

<span style="font-weight: 400;">Despite being a new player in the market, Houbi perpetual swap trading volume spiked to USD 79.5 billion in May from $21.65 billion in the previous month. In June, Houbi managed to beat BitMEX, one of the largest players in the field by recording a total of $50.2 billion.</span>
<h2><b>Houbi Beats OKex</b></h2>
<span style="font-weight: 400;">Even though Houbi is a newly launched trading product, it has managed to keep up and sometimes outshine its competitors. Houbi left yet another well-established exchange, OKEx, behind when it recorded over double the trading volume all through the months of April, May and June in BTC weekly contracts exchange in the first quarter.</span>

<span style="font-weight: 400;">In April, Houbi reported almost $100 billion on the coin margined futures trading volume, followed by May, matching the record by crossing to a range of hundred-billion-dollars. Although in June, the trading volume dropped a little to $75 billion, Houbi still managed to surpass <a href="https://www.okex.com/">OKEx</a>.</span>

<span style="font-weight: 400;">OKEx was only able to go over $2.08 billion in June for weekly contracts. Running ahead, Houbi recorded more than $5 billion all through April, May, and June in weekly contracts proving its strength over the competitors.</span>

<span style="font-weight: 400;">Up until June, Houbi was not able to register much trading over OKEx for Bi-weekly contracts but was eventually able to beat OKEx, by summing up the quarter in $3.82 billion with OKEx at $3.45 billion even though OKEx was in the lead for most of the quarter with respect to trading volume. Overall in the quarterly contracts, Houbi majored in trade volume recording over double the volume of OKEx in April and May.</span>
<h4>Articles You May Read</h4>
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Houbi Out-Performs its Competitors, Records $877.8 Billion Trading Volume

Singapore-based crypto exchange, Huobi, has outperformed all its competitors to register a trading volume of $877.8 billion in the second quarter of 2020.

Ashna is a graduate from Amity University specializing in Journalism and Mass communications. She is currently working as a content writer for Agio support solutions Pvt. Ltd. She aims to provide quality content and strategy in the field of cryptocurrency and work with digital marketing platforms to deliver brand-specific strategies.

Houbi Out-Performs its Competitors, Records $877.8 Billion Trading Volume

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