Good for Huobi for trying to compete with Binance; though as of now I don't think Huobi is even close to beating Binance. Binance is just simply doing everything right(as of now, at least). I honestly really don't see an exchange beating Binance soon. They can try though, competition is always good.
Binance is a squatter. It invades countries where in most cases it isn't even allowed to legally operate. In other words, they aren't doing everything right, but wrong. Binance's aggressive and non legal way of operating made them grow out to what it is today, which at some point will work against them. Japan fought back, so what countries are next? People using Binance right now because they don't have to verify themselves might be up for a surprise in the forthcoming months.
Funny thing about Huobi and OKCoin is that these exchanges always manage to settle themselves on top of the market, which is quite suspicious, especially after everything that happened. Even if I was allowed to trade for free and get a certain commision back per trade, I would never ever use it. This entire market has a long way to go in order to provide people and professional traders with safe and proper exchanges. The market itself has grown immensely throughout the years, but the on-exchange liquidity is as poor as always per ratio. No wonder large players rather settle OTC deals.
Decentralized exchanges might help in providing this market the liquidity it needs, because people certainly don't trust their capital to current exchanges, and I can't blame them.
