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HT Burn | Huobi Reveals $48.6 Million Worth of Token Burned in June!

“We’ve been continuing to empower HT with various application scenarios because we understand this is an essential factor that most investors will judge when choosing an asset.” — Ciara Sun, Vice President of Huobi Global Market.

🔥Huobi announced this week that it has burned 3.797 million Huobi Token (HT) valued at approximately $48.6 million in June as a continuing part of Huobi’s token burn plans.🔥

According to the latest HT monthly operations report, the average price of HT burned this time was about 12.80 USDT and it maintained a high deflation trend as in previous months with a deflation rate reaching 1.58% in June. The number of HT holders also increased by about 3.65% from the previous month. As of July 15, 2021, the total existing HT amount is 224.65 million and the total circulation amount is 177,799,000 HT.

Buy HT on Huobi Here!

🔹Great Progress Made in Global Businesses

The greatest value support of HT comes from the every-month burn. Alongside the more strict and severe financial supervision from countries around the world, many blockchain companies have become sluggish in the recent market. Even in such circumstances, Huobi maintains a resilient development in its global business and a relatively high token burn amount in June.

1) Five new payment methods added for Argentina users

In order to equip ARS users with swift and reliable means to purchase or sell digital assets in Huobi P2P market, Huobi integrates five new payment methods for its Argentina Peso (ARS) users. The newly added five payment methods are Ualá, Santander Río, Banco Galicia, Prex and AirTm. With the increase of these five new payment methods, there are a total of seven payment methods can be chosen for users in Argentina. ▶️Full Details

2) Global campaigns held with users earning sizable rewards

Two campaigns, the UEFA EURO 2020 Global Campaign and the NFT Prophet Campaign, were also held in June with users earning sizable USDT rewards.

3) Derivatives trading grows with assets increased

As of the end of June, Huobi USDT-margined Swaps has supported 97 assets with 71 of which supported in cross margin mode. Coin-margined swaps and coin-margined futures now support 54 and 13 assets respectively, covering assets in NFT, Layer2, DeFi, Polkadot or other tracks.

4) Security improved for H-series assets

On June 22, Huobi Global announced that the assets BTC, LTC, BCH, BSV, XTZ, DOT, FIL pledged by H-series assets will be migrated in batches to a more professional asset custody compliance agency Huobi Trust Company Limited (Huobi Trust) for safekeeping within this year. This move indicates that the security of the assets that anchored by H-series assets will be further improved. It is precisely by virtue of the features of openness, transparency, and verifiability, the H-series assets are intensely trusted by users around the world and have become a bridge connecting the centralized market and the DeFi market.

🔹HT Empowered by HECO Chain and Staking Program

In addition to the stable burn of the platform, the ecological construction and development of the token also greatly affects its value.

Huobi Eco Chain (HECO), a decentralized, EVM-compatible public chain developed by Huobi, has also entered into the voting stage for its global node election in June. According to the official announcement, becoming a HECO node candidate requires a pledge of 5,000 HT, and the number of votes also anchors a voter’s HT staking amount. It has been reported that a total of nine nodes have surpassed one million votes as of July 14, which would further reduce the circulation amount of HT. The participation of institutions from all over the world also makes the election a more international and decentralized event.

To further encourage the ecosystem’s development, HECO has launched the HECO Global Hackathon, which supports early-stage projects and ideas from open source developer communities, enabling community members to leverage HECO’s global platform.

This about wraps up this quick overview of the Huobi Token Burn make sure to stay tuned to our social channels below:

Twitter: https://twitter.com/huobiglobal

YouTube: https://www.youtube.com/HuobiGlobal

Telegram Channel: https://t.me/HuobiGlobalAnnouncementChannel

Disclaimer:

Trading in digital assets comes with high risks due to huge price fluctuations. Users should be fully aware of the risks associated with digital asset trading and make prudent trading decisions.

Huobi Global’ s announcements and information do not constitute investment advice, and Huobi will not bear responsibility or provide compensation for direct or indirect losses arising from trading decisions whilst relying on this information.

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