Huobi's volume is +/- twice as big as the other 16 exchanges combined!
Including all the other major exchanges + smaller ones!
Almost all the Chinese are trading at Huobi!
Volume:
96,000 of traded bitcoins located on Chinese exchanges (not taking into account the Chinese traders on non-Chinese exchanges!)
41,000 outside China
+/- 60% of bitcoins are located in China.
If China dumps, the price will crash HARD!
The only thing you have to consider is that the volume from Huobi doesn't mean that that is the number of bitcoins being traded. Because they have 0 fees, the exchange is full of bots. So what this means is essentially 1 bitcoin can be traded a billion times (or in this case 96,000 times). Unfortunately, there is actually no way to tell just how many bitcoins are actually being traded.
Furthermore, Huobi traders can use leveraged trades - they offer margin trading at 2:1. Finally, it has also been speculated that because of the 0 fees (and no way to make money except from the interest from margin trading), that it is likely that Huobi is trading on their own exchange. I have witnessed firsthand someone "painting the tape" over there, in fact a user in China gave screenshots of exactly what I have seen, which are strange 0.001 BTC trades happening.
http://s34.photobucket.com/user/snowfox2002/library/0124?sort=9&page=1I do agree completely, if/when (I believe when, not if) Huobi get shut down, the effect on price could be massive.