Huobi's volume is simply too high to be real. They don't do any effort to hide their fake volume. It's simply ridiculous. Their 10 million BTC weekly volume is basically a milestone without being a milestone. It's fake.
Reminds me of the December 2013 situation, when the Mt Gox staff rigged the order books, and took Bitcoin to a new peak ($1,200+). At one point of time, the spread between the exchange rates in Mt Gox and BTC-e was as much as $250 per coin. And as we all know, it didn't end well. I am afraid of something similar happening with Huobi.