Huobi Reveals $138 Million Worth of Token Burned in May and $68.63 Billion in Q1 Trading Volume

LONDON, June 16, 2021 /PRNewswire/ -- Huobi confirms that it has burned 5.826 million HT worth approximately $138.579 million in May as a continuing part of the token burning scheme, according to the latest HT monthly operation report shared on Huobi official website.

"The excellent performance figures in HT stem our core trading business. We have recorded a $68.63 billion trading volume in Q1, according to the data released by TokenInsight's 2021 Q1 Spot Market Research Report. Huobi has ranked first among exchanges with spot trading volume between US$50 billion and US$100 billion during this period," stated by Ciara Sun, Vice President of Huobi Global Markets.

Huobi Token is an ecosystem token launched by Huobi Global, offering benefits such as trading fee and margin discounts and access to trading events. Huobi has committed to using 20% of exchange revenues every quarter to buy HT in the open market and subsequently burn. Huobi also burns tokens used in token listing channels to vote on token listings as well as for ticket sales from Huobi Prime. The various staking options of HECO and mining increase customer loyalty in terms of token holding.

Two example campaigns were held by Huobi in May. On May 20th, 2021.Huobi Global listed APENFT (NFT) through Huobi Prime Over 26,000 HT holders participated in two Prime campaigns. According to the Prime campaign policy. On May 24th, HECO global node election opened node registration. Node candidates need to stake 5,000 HT until they withdraw from election or governance.

SOURCE Huobi Global