In the process of crypto assets moving towards the mainstream, the ultimate goal of wealth is never just the numbers on paper, but the secure realization of wealth in the real world.
In 2026, the crypto industry is entering a mature phase of "pricing revaluation," and the logic of capital flow is undergoing profound changes. From on-chain earnings to fiat currency conversion, the C2C link has become a key gateway connecting the virtual and the real world. Based on Huobi's first year of operational data, combined with industry macro trends and real user experiences, this report systematically reveals for the first time that a new C2C paradigm reconstructed around "trust" is taking shape.
Macroeconomic Contrast: $311 Billion "Liquidity Islands" and a Crisis of Trust
According to the CoinGecko 2025 Crypto Industry Report , the crypto market experienced a dramatic "asset misalignment" in 2025: although the total market capitalization of crypto fell by 10.4%, the market capitalization of stablecoins bucked the trend and surged by 48.9%, breaking through $311 billion and setting a new historical high.
This set of starkly contrasting data reveals a harsh truth about the industry: users aren't lacking in profits, but rather they're afraid to leave .
Massive amounts of funds have been converted into stablecoins and remain on the blockchain, forming isolated "liquidity islands." The root cause is the "withdrawal panic" triggered by the security collapse of fiat currency gateways in the traditional C2C model. This "panic" is evident in a Huobi HTX C2C user survey—based on thousands of user feedback gathered from public social media channels ( @HTX_c2c ) and daily operations, Huobi HTX OTC systematically analyzed and attributed typical problems in C2C trading scenarios, identifying six core pain points for users.
Among the many factors affecting user transaction experience, "anxiety about frozen cards and fund security" ranks first with an overwhelming share of 37%. This means that when nearly 40% of traders attempt to cross the boundaries between virtual and real markets, their primary concern is no longer price fluctuations, but rather the safe return of their assets. In addition, 20% of users are troubled by merchant quality and entry barriers, 14% of users feel confused during the onboarding process, and pain points such as limited payment channels (11%), low appeal efficiency (11%), and lack of transparency in merchant information (7%) are like hidden reefs scattered along the $311 billion liquidity artery.
The core conclusion is clear: the friction in depositing and withdrawing funds is no longer limited to "exchange rate losses," but has evolved into uncertainty about account status due to "opaque funding backgrounds." This crisis of trust directly blocks the flow of hundreds of billions of dollars, and the market urgently needs a fiat currency gateway "oasis" with absolute security that can fundamentally alleviate the core anxiety of the 37%.
A Microscopic Guide to Hidden Reefs: The Folded Truth of Transactions and Psychological Defenses
When macroeconomic data is applied down to the real individuals, the stagnation of 300 billion stablecoins is no longer just a financial term, but rather a reflection of countless hesitations and fears on the verge of "leaving the market."
The most direct manifestation of this fear is a psychological trauma jokingly referred to in the industry as "frozen bank card PTSD." An ordinary urban white-collar worker, accustomed to regularly allocating crypto assets in his spare time, pursues a respectable path to asset appreciation. However, a seemingly ordinary withdrawal request, due to being matched with a complex counterparty, instantly freezes all his associated bank cards. This sudden freeze not only severs cash flow but also his connection to real life—mortgage payment collection calls, workplace anxieties arising from inability to make payments, and even a deep-seated fear of the personal credit system, instantly diluting the joy of wealth appreciation into existential anxiety. In Huobi HTX user feedback, 37% of security anxiety stems from the passive harm caused by this "risk spillover," leading countless defensive users to obsessively seek out that "absolute safe haven" for their funds, even at the cost of exchange rate losses.
Meanwhile, on the other side of the market, frequent "swing traders" are suffering in a different dimension. As professional traders, their lifeline lies in efficiency. In the life-or-death race against time during market fluctuations, they urgently need to deposit funds to buy at the bottom or withdraw funds to hedge against risks, but the reality is often: unexplained delays in payment channels, buck-passing from low-quality merchants, or indiscriminate attacks from lagging risk control systems. An 11% payment restriction and an 11% delay in appeals might be considered waiting for ordinary people, but for them, it represents a real "missed opportunity cost." The core pain point for these "aggressive traders" active on the front lines of the industry is not avoiding all risks, but rather, between absolute security and capital turnover, they desperately crave an oasis that can provide "certain feedback," preventing opportunity costs from being wasted in inefficient communication.
For those "stable whales" who have weathered bull and bear markets, the C2C market is more like a treacherous "dark forest." The logic behind the entry and exit of large sums of money is completely different from that of retail investors. They are well aware that their capital size, in the transparent on-chain world, is like a giant, radiant object, easily attracting the infiltration of malicious funds. In the past, due to the lack of transparency regarding merchant information (7%), these large investors often had to rely on "probabilistic selection" or past experience to choose their counterparties. This information asymmetry has led them to develop a near-"private banking" level demand when faced with massive exit needs—they not only need transactions, but also a credit guarantee that can isolate risks at the source and, in extreme circumstances, dare to provide "full compensation" in real money.
This micro-level "folding of reality" has also resonated widely on social media. As @Yep_Cooper mentioned in his in-depth tweet comparing the truth about deposits and withdrawals at the three major exchanges , "The truth about freezing and compensation is the watershed that distinguishes the true nature of the platforms." Everyone's personal experiences point to a common demand: on the verge of trust collapse, the market urgently needs a deep trust model that goes beyond simple matching and possesses infrastructure-level capabilities.
A New Paradigm in the Industry: From "Price Comparison Game" to "Trust Infrastructure," Huobi Selection Station Maintains a "Zero Freeze" Record Since Launch.
Through a year of stable operation, Huobi Select has successfully established a high-standard trust model. Addressing long-standing pain points in the industry, Huobi Select has built a three-tiered protection system centered on "pre-event identification + in-event intervention + post-event protection," shifting C2C transactions from a simple "price competition" to a "competition for service and trust."
1. Dynamic Risk Control: Shifting from "Post-Event Handling" to "Pre-Event Prevention"
To address the 37% of security concerns, the selection platform continuously upgrades its risk control system, training behavioral models covering thousands of abnormal behaviors to achieve real-time monitoring during the transaction communication phase. Combined with a 24/7 human support system, this ensures that risk events are accurately intercepted before they occur.
2. Ultimate Screening: Resolving 20% of Merchant Quality Concerns
The selection platform maintains an extremely high merchant rejection rate through a rigorous merchant admission and evaluation system. All merchants must pass a real-name fund traceability standard, with "zero funds frozen since joining" as a core hard indicator to ensure the health of the source and flow of funds in the transaction chain. The "hellish" selection process for merchants is also a credit screening: only merchants with truly clean financial strength can enter this "oasis".
3. "Bright Sword" Performance Report: 0 Actual Account Freezes and 100% Full Refund.
Since its launch a year ago, Huobi Select has maintained a record of "0 real cases of account freezes." What truly solidifies its leadership position is its industry-first "100% full refund mechanism." Providing users with a definitive safety net in extreme scenarios stems not merely from financial resources, but from absolute confidence in its risk control algorithms and merchant management models. This mechanism elevates the risk floor of C2C from "user self-assumption" to "platform guarantee," completely eliminating users' concerns.
On this first anniversary, Huobi Select, as the strongest security bridge connecting the $311 billion ecosystem, pledges to continue strengthening its risk control infrastructure, striving to become the most stable haven in the vast crypto ocean and safeguarding every trader's right to "securely realize their profits." When "full refund" becomes the industry standard, and when "zero freeze" becomes the norm for transactions, the true prosperity of the crypto market will arrive. The meaning of wealth will ultimately be revealed in every instance of securely realizing profits.
Regarding Huobi HTX
Founded in 2013, Huobi HTX has evolved from a cryptocurrency exchange into a comprehensive blockchain business ecosystem, encompassing digital asset trading, financial derivatives, research, investment, incubation, and other businesses.
Huobi HTX, as a leading global Web3 portal, adheres to the development strategy of global expansion, ecosystem prosperity, wealth effect, and security and compliance, providing comprehensive, safe and reliable value and services to virtual currency enthusiasts around the world.
For more information about Huobi HTX, please visit https://www.htx.com/ or HTX Square , and follow us on X , Telegram , and Discord . For further inquiries, please contact glo-media@htx-inc.com .
