Huobi Pro to Launch HB10 Investment Product

The new asset is based on the recently presented index of 10 cryptocurrencies
01 June 2018   1075

The Huobi Pro Exchange has launched the HB10 offering retail investors the opportunity to invest directly in the basket of digital assets.

HB10 will use the full replication method and its holdings are adjusted according to the component coin pairs of Huobi main force index and their weights, so as to effectively track the underlying index trend.

By exchanging for HB10, users can hold Huobi main force index. Users can have the opportunity to exchange for a basket of corresponding digital assets so that they can invest in a non-systemic risk diversification digital asset portfolio with fewer virtual currencies.
 

Huobi Team

The new asset is based on the recently presented index of 10 cryptocurrencies. The components of this index represent the most liquid assets traded on Huobi.pro. These crypto assets are ranked according to their liquidity, average daily trading volume, and volatility indicators.

HB10 can be traded in pairs with other crypto-currencies, including bitcoin, Ethereum (ETH), Huobi Token (HT) and tokenized USD (USDT). At the same time, at present the commission is extremely low - from 0 to 0.1% (depending on the volume of trades).

According to representatives of the trading platform, a new investment product will also be available for institutional investors. At the same time, due to the complicated regulatory environment and legal uncertainty regarding the crypto-currency ETF (traded funds on the exchange), HB10 will not be available to investors from the US.

Huobi to Reply on Faking Trading Volumes Accusations

Huobi did not find any evidence of systematic abuse, CEO Huobi Global said
31 May 2019   226

The general director of Huobi Global, Livio Weng, said that the Huobi cryptocurrency exchange has never been involved in faking trading trading volumes, as stated in the report of Bitwise Asset Management. It is reported by CoinDesk.

So, after the publication of the report, Huobi conducted an internal investigation, which resulted in no systematic problem.

We did identify a few of our market makers conducting what we suspect may have been wash trading for the sake of performance and marketing purposes. We have already communicated with these market makers and they have discontinued the strategies in question.
 

Livio Weng

CEO, Huobi Global

In the near future, the exchange will make the necessary changes in its policy, as well as take additional measures to combat the increase in trading volumes.

Late March, Bitwise told the US Securities and Exchange Commission (SEC) that 95% of trading volumes on unregulated exchanges are fake and devoid of any economic sense.

This provoked a lively discussion around the CoinMarketCap analytical resource and the correctness of the data published on it.

Later, Bitwise said that the cryptocurrency market can be considered “healthy” if it will get rid of fake data.

Only 10 Bitcoin exchanges passed the original test of the company, Binance, Bitfinex, Coinbase, Kraken, Bitstamp, bitFlyer, Gemini, itBit, Bittrex and Poloniex are among them.