Huobi Global Reveals $12.68 Million Worth of its Tokens Burned in
Huobi Global Reveals $12.68 Million Worth of its Tokens Burned in December
Huobi Global, one of the world’s leading digital asset exchanges, announced on January 15 that it burned 1.31 million Huobi Tokens (HTs) in December 2021, valued at approximately $12.68 million. From Jan. 1, 2021 to Jan. 15, 2022, Huobi Global burned approximately 290.174 million HT.
Token burning refers to the process of permanently removing crypto tokens from circulation, which is often aimed at reducing a token’s supply. Huobi Global burns 15% of its revenue every month and allocates another 5% of its total income to repurchase and burn a portion of HT used for team incentives.
The aggregate HT circulation amount is 209.83 million HT, and the current circulation amount is 166.69 million HT. HT holders saw a 9.87% increase in growth in December 2021. According to institutional trading volume data provided by TokenInsight, Huobi’s total spot and derivatives trading volume reached $246.6 billion in December 2021.
Huobi Global Events
Huobi Global continued its Primelist events in December, with three separate token listings: Decimated (DIO), Unbound Finance (UNB), and GamesPad (GMPD). Huobi Primelist encourages users to hold HT tokens for a short interval of time to become eligible for access to these cutting-edge tokens, thereby supporting Huobi’s ecosystem. By using HT tokens as a connector, Huobi is aiming to build an ecosystem where projects with aligned visions can develop together and support each other.
More than 560,000 people participated in the UNB, GMPD, and DIO Primelist events. The market capitalization of tokens listed through Primelist have been steadily increasing showing continued interest in these tokens.
In addition to three Primelist events, Huobi Global also launched Prime Earn, a premium investment product under Huobi Earn that provides traditional crypto investors with annualized percentage returns as high as 15% for staking mainstream tokens.
“We wrapped up 2021 with several exciting events for the community, from new Primlists events to surprise Airdrops. We look forward to continuing to provide exciting and engaging opportunities for HT token holders throughout 2022,”
said Jeff Mei, Director of Global Strategy at Huobi Group.
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