{"id":368821,"date":"2019-01-22T08:00:59","date_gmt":"2019-01-22T08:00:59","guid":{"rendered":"https:\/\/wncen.com\/?p=368821"},"modified":"2024-06-11T17:59:37","modified_gmt":"2024-06-11T17:59:37","slug":"how-crypto-exchanges-are-surviving-the-bear-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/how-crypto-exchanges-are-surviving-the-bear-market\/","title":{"rendered":"Will Crypto Exchanges be Able to Survive The Brutal Crypto Winter?"},"content":{"rendered":"
Only the fittest will survive, or so the saying goes. This mantra does not only apply to the animal kingdom, it works in the business world also and surviving is what a lot of crypto exchanges and companies are struggling to do as the bear market<\/a> enters its second year.<\/p>\n The larger crypto exchanges have a better chance of weathering the storm. Downsizing may be inevitable but their large client base should keep them afloat until the crypto winter abates and markets turn around again. Huobi is one of the big players but it has gone from awarding its senior executives multi-million dollar bonuses in Bitcoin to axing staff a year later.<\/p>\n According to the SCMP<\/a> Beijing based Huobi Group is still turning a profit despite trade volume shrinking to a tenth of what it was a year ago. CEO of Huobi Global, Livio Weng Xiaoqi, said that transaction fees<\/a> make up the bulk of profits adding; \u201cWe do not know how long the bear market will last, so it is still possible that we will struggle to survive. We have to plan in advance and spend money carefully.\u201d<\/p>\n Huobi\u2019s daily trade volume was well over two billion dollars a year ago, today it has shrunk to just $318 million according to Coinmarketcap<\/a>. Reported volumes on exchanges vary hugely though so all figures must be eyed warily. What is indisputable though is that volumes and profits are way down along with crypto markets themselves.<\/p>\nGlobal Expansion Success For Huobi<\/h2>\n