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Cryptocurrency Analyst Will Woo: Reserves and Trading Volumes on Huobi Exchange Are Decreasing

Huobi, a cryptocurrency exchange headquartered in Seychelles, is facing a decline in both reserves and trading volumes. Crypto analyst Will Woo has compared the exchange to a "train wreck," noting that collateral has been draining from the exchange since 2020.

Huobi's Bitcoin balance has declined by 93.6% since 2022, and Ethereum and Tether balances are also "flat lining." Web traffic and engagement for Huobi have plummeted, and the exchange has been forced out of several countries due to non-compliance. Huobi's native HT token has also slumped in value.

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