Huobi Global Burned $38.88 Million Worth of Tokens in September, up 11.60% from August

Huobi Global Burned $38.88 Million Worth of Tokens in September, up 11.60% from August
Huobi Global Burned $38.88 Million Worth of Tokens in September, up 11.60% from August

Huobi Global, one of the world’s leading digital asset exchanges, today announced that it burned three million Huobi Tokens (HT) in September, valued at approximately $38.88 million. From January to September this year, Huobi Global burned approximately $582 million worth of HTs.

According to the latest HT monthly operations report, the average price of HT burned was about 12.94 USDT and the deflation rate reached 1.29% in September. As of October 15, 2021, there were a total of 216.61 million HTs, with 171.77 million in public circulation.

"We're glad to see HT is maintaining the high deflation trend in previous months, which has largely been realized through our global expansion efforts,"

said Jeff Mei, Director of Global Strategy at Huobi Global.

"To provide better services for our international users, we're hiring local talents around the world and aiming for a global headcount of 3,000 this year."

Derivatives Product

As Huobi Global pursues its global expansion, the exchange is launching several products and initiatives.

On September 3, Huobi Global launched Huobi Derivatives Warrant, which enables traders to choose multiple types of options corresponding to different market conditions. In contrast to traditional options service providers, Huobi Derivatives Warrant offers users a channel to increase their potential upside without putting a significant amount of capital at risk.

As of September 2021, Huobi has listed 121 assets for USDT-margined swaps, 103 of which support cross-margin mode and cover popular assets such as NFT, DeFi and Polkadot.

Huobi User Engagement and Events

Huobi Global has launched a series of special trading events offering generous rewards to its community. Huobi Earn provides flexible and fixed deposit products of HT with an annualized rate of return of up to 3.00%.

Huobi also launched its #ShapeHuobi campaign in July to seek user feedback on its trading exchange, receiving 2,067 suggestions from users around the world. In September, Huobi completed a series of improvements based on these suggestions, such as adding new fiat-to-crypto channels, adopting an ad posting feature for the Huobi mobile app, and providing derivatives users with stop-limit functions. Users who provided suggestions that were adopted received varying amounts of Huobi Tokens as rewards. A new round of the campaign will start on November 15.

"We take user suggestions very seriously when it comes to improving platform features. In August, we added two new languages: French and Italian, for local users in those respective countries. We also increased the rebate rate for spot trading from 40% to 50%, and launched a P2P ad posting feature for the Huobi mobile app in October, enabling them to post ads any time, anywhere. We want our users to know that their suggestions and support help drive our business forward,"

said Jeff.

Huobi Primepool

The third and the fourth Primepool events were launched in September 2021. Nearly 76,000 users spanning 106 countries participated in the events. Primepool events distributed huge mining rewards to users and increased demand for Huobi Tokens (HT). According to statistics, the number of HT holders increased by about 2% in the second quarter of this year.

"To show our gratitude to users who have been with us throughout our journey, we will launch many exciting 8th anniversary events with various rewards to give back to the community. We expect that our users will be happy to join our events and get their rewards,"

added Mei.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.


You can always unsubscribe with just 1 click.