Bear market in 2022 Bitcoin and altcoinsas for the cryptocurrency It’s been tough for their platforms as well.
At this point, while many crypto companies went bankrupt, they LUNA and FTX‘s collapse was one of the most notable bankruptcies.
After the events, while the confidence of the investors in the stock markets decreased, a warning was given by the famous analyst. Willy Woocame from
Warning for Huobi, Willy Woo said the stock market bitcoin and cryptocurrencies are declining, he said.
Huobi, in his recent post, BTC its reserves fell from 410,000 BTC in 2020 to 26,000 BTC, Ethereum (ETH) and Tether (USDT) Stating that his reserves are also decreasing, Woo explained Huobi’s situation. “to a slow-moving train wreck” likened it.
Huobi exchange looking like it’s a slow moving train wreck, nearing its final throws.
Collateral has been draining since 2020. #Bitcoin balance down from 410,000 BTC (2022) now only 26,000 BTC left.
ETH and USDT balances also flatlining. pic.twitter.com/aG06VyBlJp
— Willy Woo (@woonomic) July 5, 2023
Sharing a Huobi post again today, the analyst said that Huobi’s BTC reserves look dangerously low.
Huobi’s “bank run” The analyst said that if all users want to withdraw their money from Huobi at once, the stock market may face the danger of bankruptcy.
“Huobi BTC collateral is starting to look dangerously low and the exchange is in danger of a bank run.
Our systems monitor the collaterals in the exchanges with 24/7 team coverage. At this point, our risk limits for Huobi were filled last week.
The chart I attached shows that Huobi’s BTC collateral has decreased over time.”
Huobi BTC collateral starting to look dangerously low and in danger of a bank run.
Our systems monitor collateral at exchanges with 24/7 team coverage, our risk limits got hit for Huobi last week.
Chart: Huobi BTC collateral over time (as a percentage of peak balances). pic.twitter.com/OgIB4bwGcp
— Willy Woo (@woonomic) July 12, 2023
*Bank run is when too many people try to withdraw their money at the same time because they are worried that the stock market may go bankrupt.
*Not investment advice.
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