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Huobi Global Reveals $12.68 Million Worth of its Tokens Burned in December -Breaking

by Mike Robinson

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Huobi Global Reveals 12.68 Million Dollars Worth of Tokens It 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. Huobi Global has burned about 290.174 millions HT from Jan. 1-2021 through Jan. 15-2022.

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 uses 15% of its monthly revenue to burn and then allocates 5% more income each month to purchase and burn additional HT for incentives.

There are 209.83 millions of HT in circulation, while the total HT current circulation number is 166.69million HT. The December 2021 growth rate for HT holders was 9.87%. 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 continues its Primelist events with three different token listings in December: Unbound Finance (UNB), Decimated(DIO), 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. Huobi’s goal is to create an ecosystem that supports projects and visions aligned by using HT tokens.

The UNB, GMPD and DIO Primelist events were attended by more than 560,000 participants. The Primelist token market capitalization has steadily increased, indicating continued interest in these tokens.

Huobi Global launched Prime Earn under Huobi Earn. This premium product provides crypto investors with an annualized percentage return of up to 15% when they stake mainstream tokens.

“We closed 2021 with many exciting events, including new Primlists events as well surprise Airdrops. “We look forward to providing exciting and engaging opportunities to HT token holders through 2022.”
Jeff Mei, Huobi Group’s Director of Global Strategy, said:

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