Huobi burned 2.342 million HT in July: this year, the amount of HT burned has reached 510 million US dollars
On August 15, Huobi Global released the “HT July Operation Monthly Report”. Data shows that in July, the platform burned a total of 2.342 million HT, a total of about 22.591 million USDT. According to statistics, Huobi Global has burned HT worth approximately US$510 million from January to July this year.
The average price of HT burned this month is about 9.65 USDT, and the deflation rate of HT circulation in the month is about 0.99%. The trend of absolute deflation continues to be high. The number of HT users has increased by about 2% from June. As of August 15, 2021, a total of 27.696 million HTs have been destroyed. The total number of existing HTs is 22.303 million, and the total circulation is 176.042 million.
This monthly report also shows that Huobi’s various businesses are accelerating the development in an all-round way. The global operation rhythm of core businesses such as spot and contract has been significantly accelerated. It leads the market in terms of major indicators such as overall transaction volume. Among them, Q2 achieved a transaction volume of approximately US$115.17 billion. At the same time, the recently launched primepool pledged HT to launch a new airdrop campaign, which has a high market enthusiasm and a significant wealth effect.
Global operations continue to increase, and user confidence returns to accelerate
In the digital asset industry, the exchange is one of the only fields in the industry with stable earning power. The revenue capacity of the platform constitutes the most important endogenous value of the platform currency, which is inseparable from the continuous development of various businesses.
The monthly report shows that Huobi’s many global businesses are in full swing. In terms of global event operations, during the Olympics, Huobi Global launched Olympic Challenge events for users. On the other hand, following the popular NFT and gamefi track assets in the market, Huobi Global launched a series of special trading activities such as AXS and FLOW.
In terms of listing, after a period of silence, Huobi fully recovered and accelerated the pace of listing. The spot launched the NFT track project DFA on August 6, and the CLV was launched on the 12th. In terms of contracts, the U-standard perpetual contract of ACH, FLOW and NKN was launched on August 10, and then the U-standard perpetual contract of AKRO, SAND, RVN, RNDR, and MASK was launched on August 13. Warehouse mode, and IOTX/USDT perpetual contract.
The market has been improving in the past two days, and Defi has become hot again, but the largest Defi attack in history has left many people lingering fears, and everyone has deepened doubts about the technology and risk control capabilities of various projects and platforms. Huobi is a big place with zero accidents in 8 years, and its safety performance is obvious to all in the industry. On the previous 8.3 day, BSV suffered a large-scale 51% attack, and many first-line exchanges became the biggest victims. As early as July 1, Huobi monitored this anomaly, suspected a double-spending attack, suspended the deposit and withdrawal of BSV, and successfully protected the user’s asset security. The strong risk control ability has won the recognition of many followers including Coindesk, a well-known media in the industry.
Of course, for HT, many favorable factors, the most direct impact on it is reflected in the repurchase and destruction. Huobi injects billions of dollars of revenue into HT every year. The stronger the natural revenue, the stronger the destruction capability, and the more obvious and long-term value support is.
According to TokenInsight’s “Cryptocurrency Trading Industry Report for the Second Quarter of 2021” released in July 2021, Huobi will achieve a transaction volume of approximately US$115.17 billion in Q2 of 2021. Such a strong ability to attract gold will undoubtedly double the confidence of the holder.
Primepool airdrop , hit the new wave
The most interesting thing in the monthly report is the recent launch of Huobi’s Primepool campaign, which may also become a “wealth-making machine” in the next period of time.
The primepool launched by Huobi is a bit similar to hit new, but different from other platforms is that it adopts the principle of “free airdrops for new projects”, that is, users can get airdrop rewards of new coins by staking HT and other coins, which means that regardless of the new coins Regardless of how well they perform when they go online, users are all earning, because all the new tokens they get are given away. This way of concession can be described as full of sincerity, once launched, it has attracted the attention of users all over the world.
In addition to the grand occasion, DFA, a new project under the spotlight this time, also performed extraordinary. At 8 pm on August 5th, the first phase of HuobiPrimepool’s DeFine (DFA) project was officially launched for trading. Within 5 minutes, the opening price surged from 0.1U to 3.5U, an increase of 3476.7%.
According to data disclosed by Huobi 5 minutes after the opening of the market, 3256 people participated in this round of primepool, covering 79 countries. There were more than 14.73 million HT locked and 83,000 ETH. Users received 1.08 million DFA rewards, which is 108,000 U based on the opening price and 3,862,800 U based on the highest point of the opening 5 minutes. The annualized rate of Primepool HT mining is 265.04%, and the annualized rate of return for ETH mining is 135.86%. .
Compared with many new projects that started at the peak, DFA’s performance is more than that, and then it climbed all the way to break new highs. The highest price broke through 4.5U, which is equivalent to Huobi giving away 4.86 million U to users. This big deal really shocked the industry. , Huobi has become the platform with the most significant wealth effect.
After a period of dormancy, Huobi officially returned, and Primepool’s first show can be regarded as fulfilling its mission. According to the latest announcement, the second phase of Huobi Primepool’s SKU (Sakura Finance) will follow one week later. From August 16 onwards, global users can flexibly lock HT and CLV to participate in the Primepool airdrop and share 16.8 million SKUs. .
It is understood that SKU (Sakura) is a sister network of CLV (Clover) and a smart contract platform on Kusama, which aims to provide users with a one-stop solution for cross-chain and Defi.
Relying on its own industry resources and influence, Huobi is increasing its frequency and intensity to intensively transfer new wealth effects to HT users.
Of course, this naturally attracted the attention of market participants. Recently, HT has attracted a round of main Shenglang. As of August 12, HT is approaching the $14 mark, and it has almost doubled from the low of 7.47USDT on July 21 in less than a month.
In response to the recent strong trend of HT, the industry generally believes that, on the one hand, the monthly repurchase and destruction of Huobi global stations often reach tens of millions of dollars. As the market picks up, the platform’s revenue expectations continue to increase. On the other hand, huobi recently resumed its new launch and started primepool’s lock-up HT airdrop activity. The project’s highest increase reached 450%, showing a significant wealth effect, which will greatly increase the application range of HT and market demand. It has also become a key scenario to change the recent HT supply and demand relationship. In addition, recently NFT has once again become a market hot spot, and HECO Chain’s ecological development is relatively good, which has generally strengthened people’s expectations.
As the market picks up, HT, as a high-quality asset backed by real value in the industry, has further improved its value and market recognition. The next performance is worth looking forward to!
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/huobi-burned-2-342-million-ht-in-july-this-year-the-amount-of-ht-burned-has-reached-510-million-us-dollars/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.