Huobi Global Reveals $28.35 Million Worth of its Tokens Burned in October

Huobi Global, one of the world’s leading digital asset exchanges, announced that it burned 3.36 million Huobi Tokens (HT) in October, valued at approximately $28.35 million. From January to October this year, Huobi Global burned approximately $610 million worth of HTs.

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According to the latest HT monthly operations report, the deflation rate reached 1.47% in October. As of Nov 15, 2021, there were a total of 213.25 million HTs, with 169.25 million in public circulation. The number of HT holders in October increased by about 2.79% from September.

“We’re delighted to see an increase in the number of HT holders increase. To show our gratitude to the Huobi Token holders for their support and incentivise them by providing more additional benefits, we have arranged a series of events and initiatives to push forward with our global expansion,” said Jeff Mei, Director of Global Strategy at Huobi Global.

Eighth Founding Anniversary Events

Huobi Group recently announced its 8th Founding Anniversary celebrations on November 3rd, 2021, with a series of events and campaigns being held throughout this month. As part of these celebrations, Huobi continues to give away millions of dollars in prizes.

In addition, Huobi Group is launching its flagship campaign, which will offer one lucky winner the experience of a lifetime with a trip to the outer perimeters of Earth. Reflecting Huobi Group’s vision to make finance more accessible and inclusive, this incredible opportunity will be open to all new and existing Huobi Global users.

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Huobi Primelist

Huobi Global launched the first Primelist event on November 1st, 2021, offering both institutional and individual investors a unique opportunity to access new blockchain projects. The first project Immutable X (IMX), whose opening price was $0.160 Tether (USDT), skyrocketed to 7.87 USDT with the price change exceeding 4,818.75% in 10 minutes.

Approximately 67,000 users spanning 131 countries participated in the event, of which 2,400 were able to purchase 1,250 IMX each, which is valued at around 10,000 USDT based on the peak price of 7.87 USDT. The annualized rate of return (APY) for users holding 5,000 HT surged as high as 1,447% based on the highest price.