Pionex Withdrew All Of Huobi’s Market-making Funds To Increase Transaction Depth

Pionex, a Singaporean cryptocurrency exchange, made the announcement that Huobi’s market-making funds had been taken off its platform as a result of the exchange’s trading volume rapidly falling.

Dave Yeh, a Pionex growth, announced the news on the exchange group on Facebook.

On a regular basis, the assets on the platform will filter well-liked assets for off-the-shelf and off-the-shelf agglomeration exchanges, as well as make improvements such as on-chain and global rankings. The security team has steadily reduced the pooled market-making funds on the platform to safeguard the security of the funds of the many Pionex users, as Huobi Exchange’s trading popularity on the platform has gradually declined in recent months, according to the announcement.

The security team has been enhancing the API architecture over the past year in addition to making ongoing improvements to the financial products and bots of the deployment network. This has helped the Pionex network become less dependent on Binance and Huobi, allowed for the introduction of third-party market makers, and increased transaction depth.

The capital used to create Huobi’s market has been fully withdrawn from the distribution network today, and third-party market maker partners provide the transaction depth of the applicable currency pair.

The “cautious” and “solid” market strategy and product development strategy that Pionex has been pursuing has avoided many black swan incidents in the industry and has had no impact on the platform during these events, which have included the Luna death spiral, FTX misappropriation of customer funds, and the recent intensification of borrower interests related to Genesis.

Pionex’s one-year-old derivatives contract platform is also going live in the first quarter of this year. Regardless of how the market develops in the coming year, Pionex will build on its three-year expertise and provide additional cutting-edge solutions to fulfill the needs of investors.

With Binance and Huobi‘s depth of trading, Pionex, the largest quantitative trading exchange in the world, was officially launched in 2019 to offer international currency investors a superior trading experience. Pionex has also been committed to developing a number of trading robots and tools to assist currency investors in making sound investments in crypto assets.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News