Huobi US (HBUS) Shuts Down After Consistently Low Trading Volume

[crabby]

Huobi US has announced today they will be shutting down on December 15th, 2019. This comes after over a year and a half of low volume trading on the exchange.

Our team wanted to remind everyone to withdraw their funds from HBUS and find a new exchange as soon as possible. We've provided more resources, links, and thoughts in our most recent blog post. Let us know if you have any questions!

Note: Huobi Global will continue to operate. Only HBUS users will be affected.

https://blog.shrimpy.io/blog/huobi-us-hbus-shuts-down

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[eaLiTy]

Huobi US has announced today they will be shutting down on December 15th, 2019. This comes after over a year and a half of low volume trading on the exchange.

There are established exchanges like Binance, Coinbase, Kraken and CEX that majority of the US customers trade and they introduced their platform in 2018 and it will be difficult to penetrate a market that is already established by other players unless Huobi can come up with something special in terms of fees or other offers and they failed to attract the customers and hence they are shutting their business in the US .

[wajik-tempe]

Huobi US has announced today they will be shutting down on December 15th, 2019. This comes after over a year and a half of low volume trading on the exchange.

There are established exchanges like Binance, Coinbase, Kraken and CEX that majority of the US customers trade and they introduced their platform in 2018 and it will be difficult to penetrate a market that is already established by other players unless Huobi can come up with something special in terms of fees or other offers and they failed to attract the customers and hence they are shutting their business in the US .

Yeah those big exchanges are already monopoly the possesion of exhchanges in US and i'm looking at the US people behaviour are not interesting moving to new exchange with lower volume.

[exstasie]

Huobi US has announced today they will be shutting down on December 15th, 2019. This comes after over a year and a half of low volume trading on the exchange.

I think they shot themselves in the foot by branding as "HBUS." They weren't able to leverage their brand that way. By the time they rebranded as Huobi, the damage was done. They might have also suffered from anti-Chinese sentiment given the US-China trade situation under Trump.

I'm wondering if Bitflyer US will follow the same fate. They have also been perpetually dead since launch, with single digit volumes some days.

[leowonderful]

There are established exchanges like Binance, Coinbase, Kraken and CEX that majority of the US customers trade and they introduced their platform in 2018 and it will be difficult to penetrate a market that is already established by other players unless Huobi can come up with something special in terms of fees or other offers and they failed to attract the customers and hence they are shutting their business in the US .

Even lower fees might not be enough to start up a decently-sized userbase or grow as a new exchange, and it seems like for now people in the United States are satisfied with the big players like Coinbase that already exist perhaps because of reputability. Pretty unfortunate because it's always great to have multiple options and I'm not a big fan of Kraken especially for the many problems that you can have trading with leverage on it, but things certainly don't seem like they're panning out well for new US-oriented exchanges besides maybe Binance US.

[target]

Huobi US has announced today they will be shutting down on December 15th, 2019. This comes after over a year and a half of low volume trading on the exchange.

I think they shot themselves in the foot by branding as "HBUS." They weren't able to leverage their brand that way. By the time they rebranded as Huobi, the damage was done. They might have also suffered from anti-Chinese sentiment given the US-China trade situation under Trump.

I'm wondering if Bitflyer US will follow the same fate. They have also been perpetually dead since launch, with single digit volumes some days.

Yes they could be. With all the brainwashed individuals on earth already hearing all the fake bad things about them, Huobi US will suffer. So this must be one of the reason why Binance suddenly decide to get into the US market, I hope they won't end up like Huobi US.  But I wonder why they give up this time after the long years of keeping up, now that the market is getting stable they just quit.

[khaled0111]

But I wonder why they give up this time after the long years of keeping up

They are not that old. They launched HBUS on July last year.
What I couldn't understand is why they didn't stick to a single main exchange "huobi global"? why creating all this confusion by launching "HBUS", "huobi mena"...? Is their plan to create an exchange for each country?
What's for sure is that they invested a lot of money in promoting those exchanges but obviously it didn't work as they were expecting.

[figmentofmyass]

But I wonder why they give up this time after the long years of keeping up, now that the market is getting stable they just quit.

it's just their US branch that's closing. it's business as usual at their primary exchange (huobi global) and other state-specific platforms like huobi china.

they kept it up as long as they did probably due to sunk costs. they put a lot of money into their USA operation, particularly for MSB compliance and state money transmitter licensing. too bad it didn't work out.

[joniboini]

Sooner or later I think there will be more cases like this, especially if the trading volume, in general, doesn't improve. When the next wave comes in, the cycle will repeat itself. Hopefully, it can bring a new competitor on the market so we don't get screwed by a monopoly as we have in the GPU market.