Huobi, one of the major crypto exchanges in China disclosed the latest business data in a report jointly revealed by investment institutions IOSG and Huobi.

The report revealed that Huobi currently has more than 15 million users (over 80% are from foreign countries), and the latest DAU (Daily Activate Units) exceeds 180000. At the same time, from Q4 last year to Q1 this year, the number of institutional clients of Huobi has increased by more than 100%. At present, more than 50% of the transaction volume of the platform comes from institution clients.

In contrast, on December 31, 2019, Binance voluntarily announced that it had 15 million users. Now the leaked user data shows Huobi has become a competitor to Binance. Coinbase claims to have 35 million users. In fact, the comparison of DAU (Daily Activate Units) is of little significance, because it is subject to fluctuations in coin prices.

The number of users and DAU may be similar to our perception. Considering that most crypto users will register accounts in several exchanges, there should be tens of millions to 100 million cryptocurrency users worldwide. However, the revealed data that “more than 80% of users are from foreign countries” have been questioned by some professionals. According to the report published by OKEx in 2019, more than 50% of the monthly user flow of OKEx and Huobi came from China.

The report mainly highlights several advantages of Huobi as follows:

1: In the previous attacks, Huobi hasn’t been trapped in any major risk event.

2: At present, the fund precipitation of Huobi is more than $8.7 billion, exceeding that of Coinbase, OKEx, and Binance.

3: The trading volume of Q1 crypto futures in 2020 is $438 billion, ranking first.

In addition, the growth rate of institutional customers in Huobi is extremely fast. Binance has also disclosed that compared with the fourth quarter of 2019, the total number of institutional customers increased by 47.4% in the first quarter of 2020. This also indicates that the growth and activity of retail investors in major exchanges are somewhat stagnant.