Huobi said it has recorded almost $1 trillion in unilateral trading volumes on its platform.
Giving its full statement on its website, Huobi announced that nothing less than $877.8 billion worth of unilateral trading volumes had been recorded in the past few months.
In the first quarter, we recorded our trade volume as $444.2 billion while our second-quarter trade volume was $433.7 billion
Huobi further stated that swap accounts contributed majorly to the trade volumes as they claim they are side by side and have even overtaken their rival, Bitmex.
Huobi says swap trading was a crucial factor in the increase of their unilateral trading volumes
In the statement, Huobi noted that April saw them record $21.65 billion in swap trading volumes, and May came with more swap trades as they recorded $79.5 billion, which put them a little bit below Bitmex. The firm said June was unexplainably good as they were able to overtake their rival as they posted $50.2 billion in swap trades volumes.
Huobi also announced that even though futures trading volumes were not as much as that of swap trading, it was able to increase their unilateral trading volumes. A value of $100 billion combined figure was recorded in futures in April and May while the firm realized a trading volume of $75.05 billion in June.
Huobi says it has displaced OKEx in BTC weekly contracts
Furthermore, Huobi said it has displaced OKEx as it has already recorded double the figure that the firm recorded in their BTC weekly contracts.
Huobi also noted that the market depth was a crucial factor in the increase of their unilateral trading volumes as most of their traders performed high transactions daily. Initially, Huobi has always been accused of falsifying their trading volumes but the firm has always come forward with proofs to deny the accusations.