{"id":286751,"date":"2023-01-06T15:48:32","date_gmt":"2023-01-06T15:48:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=286751"},"modified":"2023-01-07T00:35:10","modified_gmt":"2023-01-07T00:35:10","slug":"huobi-sees-net-ouflows-of-over-60m-in-24-hours","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/huobi-sees-net-ouflows-of-over-60m-in-24-hours\/","title":{"rendered":"Huobi sees net outflows of over $60M in 24 hours"},"content":{"rendered":"<p>Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days &#8211;$60 million (63.8%) of the outflows were recorded in the previous 24 hours &#8212; according to Nansen <a href=\"https:\/\/twitter.com\/nansen_ai\/status\/1611272809665396737?s=20&t=S2qzfCx1t6TOJCY0-EVD5A\">data<\/a>.<\/p>\n<p>DeFillama's <a href=\"https:\/\/defillama.com\/protocol\/huobi\">data<\/a> shows that the exchange's outflow in the last 24 hours had exceeded $70 million as of press time. The data shows that the exchange saw significant inflows of \u00a0$87.9 million on Dec. 15 and $46.04 million on Dec. 28 &#8211;since then, the firm has recorded outflows exceeding $200 million.<\/p>\n<p>According to Nansen, the highest outflows were from stablecoins addresses (<a href=\"https:\/\/cryptoslate.com\/coins\/tether\/\">USDT<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/usd-coin\/\">USDC<\/a>) and Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) wallets with high balances.<\/p>\n<p>Huobi <a href=\"https:\/\/cryptoslate.com\/huobi-confirms-lay-offs-amid-rampant-fud-over-operational-stability\/\">confirmed<\/a> plans to lay off 20% of its staff in a &#8220;structural adjustment&#8221; that would be completed within the first quarter.<\/p>\n<h2>Huobi controls over 80% of HT<\/h2>\n<p>Nansen said <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Huobi holds 81% of the<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> circulating supply of its native token, HT. <\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Earlier today, the token experienced a sell-off that saw its value drop by over 6%; however, its value rebounded and grew to $<span class=\"holepunch holepunch-coin_price_usd\">4.66590 as of press time.<\/span><\/span><\/p>\n<p>Meanwhile, Lookonchain <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1611329320336920576?s=20&t=Uuv4ER6AiZi8OuAUcKtvxg\">reported<\/a> that Sun deposited <span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">$100 million worth of <\/span><span class=\"r-18u37iz\">USDT<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> and <\/span><span class=\"r-18u37iz\">USDC<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> in Huobi. A crypto trader <a href=\"https:\/\/twitter.com\/Cryptolicious9\/status\/1611329516802117632?s=20&t=Uuv4ER6AiZi8OuAUcKtvxg\">pointed out<\/a> that a buy wall of 1M <span class=\"r-18u37iz\">HT<\/span> suddenly appeared after the deposits.<\/span><\/p>\n<h2>Justin Sun dispels rumors<\/h2>\n<p>Tron founder cum Huobi's advisor Justin Sun dispelled the rumors surrounding the exchange. Sun <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1611297498588663810?s=20&t=EwCRYN8TsgjRUe5wZ5cO6g\">said<\/a> the key to the firm's success was to &#8220;Ignore FUD and Keep Building.&#8221;<\/p>\n<p>Meanwhile, a Twitter thread from blockchain analytical firm Arkham Intelligence <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1611273235286601728?s=20&t=n-qhhLotbWE4bG-oGTwvTQ\">alleged<\/a> that Sun might also have problems with his fortune. According to the firm, on-chain data shows Sun paid thousands of dollars in slippage to swap and bridge stablecoins rather than redeeming directly on Tron.<\/p>\n<p>Arkham added that Sun has no reason to do this because he has an institutional banking relationship.<\/p>\n<p>Several analysts have advised Huobi users to withdraw their funds from the exchange. BnkToTheFuture CEO Simon Dixon <a href=\"https:\/\/twitter.com\/SimonDixonTwitt\/status\/1611169092588773377?s=20&t=S2qzfCx1t6TOJCY0-EVD5A\">tweeted<\/a>, &#8220;n<span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">obody should have funds on <\/span><span class=\"r-18u37iz\">Huobi<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> at this point.&#8221; Arkham Intelligence also <a href=\"https:\/\/twitter.com\/ArkhamIntel\/status\/1611273271160492033?s=20&t=n-qhhLotbWE4bG-oGTwvTQ\">advised<\/a> the exchange users to withdraw their assets into tier-1 exchanges (Binance\/Coinbase) or self-custody.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days &#8211;$60 million (63.8%) of the outflows were recorded in the previous 24 hours &#8212; according to Nansen data. DeFillama&#8217;s data shows that the exchange&#8217;s outflow in the last 24 hours had exceeded $70 million as of press time. The data shows [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":286784,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[77001],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huobi sees net outflows of over $60M in 24 hours<\/title>\n<meta name=\"description\" content=\"Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days -$60 million were recorded in the previous 24 hours.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/huobi-sees-net-ouflows-of-over-60m-in-24-hours\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huobi sees net outflows of over $60M in 24 hours\" \/>\n<meta property=\"og:description\" content=\"Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days -$60 million were recorded in the previous 24 hours.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/huobi-sees-net-ouflows-of-over-60m-in-24-hours\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-06T15:48:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-07T00:35:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/01\/huobi-outflow.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/huobi-sees-net-ouflows-of-over-60m-in-24-hours\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/huobi-sees-net-ouflows-of-over-60m-in-24-hours\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/10\/profile-oluwapelumi-adejumo-1-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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