LONDON, September 17, 2021 / PRNewswire / – Huobi Global, one of the world’s leading digital asset exchanges, today announced that it burned 2.69 million Huobi tokens (HT) in August, worth approximately $ 35.05 million. From January to August of this year, Huobi Global burned approximately $ 543 million value of HT.

According to HT’s latest monthly operating report, the average price of HT burned was around 13,028 USDT, maintaining a high deflation trend that has been reflected in the previous months. The deflation rate reached 1.15% in August. From September 15, 2021, there was a total of 219.61 million HT, of which 174.02 million were in public circulation.

As the trend of high deflation continues, Huobi Global is improving Huobi Token by adding more value to its ecosystem and increasing the number of application scenarios. As regulators around the world closely monitor digital currencies, the crypto market, led by Bitcoin, has undergone a sharp correction and the market’s global trading volumes have fallen since May of this year. August saw a recovery with Huobi Global’s August revenue up 55.13% on a monthly basis, reflecting user confidence in its ecosystem.

“The market for digital assets is very likely to continue to thaw over the next few months, and the number of HT burned is also expected to increase alongside Huobi Global’s globalization efforts,” said Jeff Mei, Director of Global Strategy .

As the market improves and bull market talks continue in the face of extreme price swings, users are highlighting long term issues with crypto exchanges, especially the security and stability of their trading systems. negotiation. As an exchange widely recognized for its security, Huobi Global places a strong emphasis on user security and risk control in its development strategy, to provide users with peace of mind.

Huobi Global has launched a series of special business events offering generous rewards to its community. In early September, Huobi launched the Futures Masters competition, offering a US $ 120,000 jackpot for the winners. Huobi Earn also offers a high Annual Percentage Return (APY) for investors who prefer stable income and lower risk. The APY of some popular assets like USDT is even four times higher than what is offered in the market. According to the monthly report, Huobi Earn users received a total of $ 1.04 million in mining rewards in August.

After launching three events in one month, Huobi Primepool has become the go-to digital mining platform for users looking for significant revenue potential. The first project, DeFine (DFA), has been multiplied by 45 compared to its opening price; the second project, Sakura Finance (SKU) and the third project, Talken (TALK), jumped 30,900% and 15,900%, respectively, after five minutes of trading. Huobi Global distributed rewards worth 0.1 billion USDT to its users at the three Primepool events, with the fourth Primepool airdrop for Structure Finance (STF) underway.

“With the incentives introduced by the new Primepool events, more users are participating and betting on HT. We expect Primepool to foster a strong and stable HT ecosystem, bringing more benefits to HT holders, ”added Jeff.

SOURCE Huobi