Huobi Reportedly Raked in $483 Million in Commissions Last Year

Hektor Ehring Jeppesen / Flickr

Huobi Global, owner of the third-largest crypto exchange by trading volume, reportedly raked in $483 million from trading commissions in 2018.

According to a recent report by South Korean media outlet Sporbiz, which cites Hwaseong Jae Kyung, a commodity specialist in the Chinese virtual money market, Huobi earned 545.2 billion won ($483.9 million) in commission income last year, surpassing both Binance ($463.9 million) and OKEx ($293.4 million).

Although unconfirmed, the figures seem plausible based on data shared with us by Huobi about its new derivatives market (Huobi DM), which recently saw its trading volume surpass $20 billion after launching at the end of last year. Huobi DM currently offers long and short positions for Bitcoin (BTC), Ethereum (ETH) and EOS (EOS).

The popular exchange also recently announced that it will be supporting the BitTorrent Token (BTT) airdrop for Tron (TRX) holders next month.

Huobi Token (HT) is currently trading flat on the day to $1.04, giving the exchange token a $52 million market cap and making it the sixth largest constituent in the AltDex Exchange Index (ALTEXC).

Huobi and Binance did not immediately respond when reached out to confirm the details of this report.

More: Huobi had commission income of 545.2 billion won last year
Similar: Huobi Launches EOS Derivative Trading With a Giveaway
Photo: Hektor Ehring Jeppesen / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be¬†tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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