Huobi Exchange Trade Data

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Huobi API

Information
Network
-
Source type
CEX
Volume 24h
$ 514,601,884.43
Pairs available
99
Trades 24h
3,176,396
Exchange Information

What is Huobi?

Huobi is a cryptocurrency exchange founded in 2013 by Leon Li. It operates as a platform where users can buy, sell, and trade various digital assets. The company behind Huobi is Beijing Huobi Tianxia Network Technology Co., Ltd. The name "Huobi" comes from the Chinese words "huo" meaning "currency" and "bi" meaning "coin." It has become one of the largest cryptocurrency exchanges globally, offering a wide range of trading pairs and services to its users.

What are the benefits of using Huobi?

Huobi, one of the leading cryptocurrency exchanges, offers several benefits that make it stand out from its direct competitors. Compared to other exchanges such as Binance and Coinbase, Huobi provides unique advantages that attract users.

One of the key benefits of using Huobi is its wide variety of listed cryptocurrencies. Huobi offers a vast selection of trading pairs, allowing users to access a diverse range of digital assets. This extensive offering gives traders more options and flexibility, enabling them to explore different investment opportunities and strategies.

Another advantage of Huobi is its competitive fee structure. The platform offers relatively low trading fees compared to its competitors, which can potentially save users significant costs over time. Lower fees mean more funds remain in the users' pockets, allowing for more efficient trading.

Furthermore, Huobi places a strong emphasis on security. The exchange has implemented robust security measures, including cold storage for the majority of user funds and two-factor authentication (2FA) for added account protection. These security protocols help safeguard users' assets and prevent unauthorized access.

In addition, Huobi has a user-friendly interface and provides a seamless trading experience. The platform offers advanced trading tools, such as order types and charting features, that cater to both beginner and experienced traders. This intuitive interface enables users to easily navigate through the platform and execute trades efficiently.

Overall, Huobi stands out from its competitors through its extensive selection of cryptocurrencies, competitive fees, strong security measures, and user-friendly interface. These benefits make Huobi an attractive choice for cryptocurrency traders looking for a reliable and feature-rich exchange.

How does Huobi work?

Huobi is a cryptocurrency exchange platform that facilitates trading between various digital assets. It operates on its own blockchain called Huobi Chain, which is designed to provide secure and efficient transactions. Huobi Chain employs a decentralized architecture, allowing users to have full control over their funds and assets.

At its core, Huobi Chain utilizes a consensus mechanism known as delegated proof-of-stake (DPoS), which enables a group of selected validators to confirm transactions and maintain the network. DPoS ensures fast transaction confirmations and high scalability, making it suitable for a high-volume exchange like Huobi.

The functioning of Huobi involves a few key components. First, users can deposit their cryptocurrencies onto the Huobi exchange by generating unique wallet addresses for each token. These deposits are then recorded on the Huobi Chain, ensuring transparency and security.

Trading on Huobi occurs through a matching engine that pairs buyers and sellers based on their order preferences. Once a trade is executed, the transaction details are added to the Huobi Chain, allowing users to verify their trading history.

Withdrawals from Huobi are also recorded on the blockchain, ensuring the integrity of the process. Users can access their funds either by transferring tokens to their personal wallets or by converting them into fiat currencies through Huobi's fiat gateway partners.

Overall, Huobi's underlying technology, Huobi Chain, powers the exchange's secure and efficient trading environment. Through its decentralized architecture and DPoS consensus mechanism, Huobi aims to provide users with a reliable and transparent platform for cryptocurrency trading.

How does DIA fetch Huobi trade data?

DIA employs a comprehensive approach to fetch trade data from different types of exchanges, including both decentralized finance (DeFi) and non-fungible token (NFT) exchanges. Depending on the type of exchange, the process varies slightly to ensure the accuracy and reliability of the data.

For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trade data from the exchange databases. This is achieved using Rest APIs or WebSocket APIs, and the data collection frequency can range from 1 to 7 seconds, depending on the exchange. By retrieving data directly from the source, DIA ensures high precision and up-to-date information.

On the other hand, for decentralized exchanges (DEXs), DIA takes a different approach. Instead of relying on exchange databases, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This allows DIA to retrieve trading data directly from the blockchain itself, eliminating any potential inaccuracies or manipulation.

When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from integrated marketplaces' smart contracts. The retrieval period typically ranges from 20 seconds to 1 minute, ensuring real-time data on all NFT transactions. By leveraging this method, DIA can provide precise and customizable price feeds for the broader NFT market.

Overall, DIA's comprehensive data management strategy, which includes direct scraping from exchange databases and retrieving data from blockchains and smart contracts, enables them to provide highly accurate and reliable price feeds for various types of exchanges.

How build oracles with Huobi data?

When it comes to building price oracles with Huobi trade data, DIA follows a specific process depending on the type of exchange we are referring to.

For DeFi exchanges, such as cryptocurrency trading platforms, DIA begins by cleaning and detecting outliers in the trade data. This step ensures that trades with prices that deviate significantly from the current market price are excluded. This is crucial to prevent market manipulation or errors from impacting the price estimation. DIA achieves this by applying an Interquartile Range (IR) filter, which removes trades that fall outside an acceptable range relative to the interquartile range. The remaining trades are then used to calculate the price using various trade-based price determination methodologies, such as Volume Weighted Average Price (VWAP) or Moving Average with Interquartile Range Filter (MAIR). These methodologies take into account factors like trade volumes and help arrive at a single USD price value for each asset.

On the other hand, when building price oracles for NFT collections, the process is different. DIA first applies cleansing filters to the on-chain trade data to exclude market outliers and manipulation techniques. This is crucial because NFT pricing can be vulnerable to manipulation by malicious market actors. Once the data is cleansed, DIA applies pricing methodologies to determine the final price point. The simplest methodology is the Floor Price, which provides the lowest sale price recorded on the blockchain during a given time window. However, to address market manipulation and provide more reliable NFT floor prices, DIA offers advanced methodologies such as the Moving Average of Floor Price. This methodology calculates the moving average of a collection's floor price, taking into account customizable parameters such as the length of the average and the size of the floor window.

Overall, DIA's process for computing trade data from Huobi to build price feed oracles involves cleaning and detecting outliers in the data, applying trade-based price determination methodologies, and ensuring the reliability and accuracy of the derived prices.

How does DIA source price oracle data?

Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.

Granular trade data collection
DIA retrieves token and NFT tradign data from 100+ exchanges. This enables DIA to build the most precise and customizable price feed oracles.
Instant, direct sourcing
DIA utilizes RPCs and WebSockets to subscribe to swap events and gather trading data from both DEX liquidity pools and CEX databases, allowing for real-time data collection.
Learn more about data sourcing