Huobi Global Announces Measures to Strengthen Its Presence in Russia
Huobi Global expands its presence in Russia
Trading volume on Huobi Russia reaches almost 10% of total volume on Huobi Global
The process of migrating user accounts from Huobi Russia will be prompt
Huobi Global wants to benefit from the growing digital asset market in Russia
The exchange intends to benefit from the growing cryptocurrency market in the Russian Federation.
As part of its expansion plan, Seychelles-based exchange Huobi Global has appointed Vladimir Demin as lead advisor to the parent company. Prior to that, Demin was listed as a partner and CEO of Huobi Russia.
Vladimir Demin emphasizes “colossal” opportunities in the country for both cryptocurrencies and blockchain.
He hopes to help Huobi Global respond to high and growing user demand for cryptocurrency products in Russia.
Trading volume on the Huobi Russia platform has reached almost 10% of the total volume on Huobi Global, and the exchange’s client base is currently just over 4,000 people..
According to Siyara Sun, Vice President of Huobi Global Markets, the process of migrating user accounts from Huobi Russia will be very simple and fast, and once completed, clients will receive a number of new benefits..
Huobi recently announced the introduction of a special savings system that will be available to a specific category of users. The limit for each individual account will be 3,000 Tether (USDT) or the equivalent amount in bitcoins.
Earlier today BeInCrypto editors wrote, that experts from Blockchain Research Lab, referring to the results of their analysis, have identified a number of exchange platforms that inflate their trading volumes. Among them, along with FCoin and OKEx, was Huobi.
How is Bitcoin doing
Meanwhile, the bitcoin rate continues to systematically decline as part of the correction from fresh 2020 highs, reached on August 17, just below $ 12,500..
Since then, quotes have retreated, having marked yesterday the lows of August 13 in the region of $ 11,366.
Technical indicators on the daily chart point to a predominantly neutral picture, suggesting further consolidation of BTC with a downward bias before resuming buying, possibly at lower and attractive levels..