Huobi enjoyed a month-on-month 31.3% increase in aggregate trading volume in February 2020
In February 2020, Huobi trading volume increased by 31.3% (including Huobi Global & Huobi DM). Besides, Huobi Global decided to burn all 147,417,900 HT allocated to Platform Operations and the Investor Protection fund.
Information about Huobi Token (HT)
After the voting results of the third quarter of 2019, a portion of HT team incentive rewards will not re-enter the secondary market, but enter a new period of deflation. There will no increase in circulating supply arising from the unlocking of HT tokens.
Total HT burnt in February 2020 amounted to 4,213,900HT, a value of 18,195,800 USDT, a 43.45% increase from January 2020. The total amount of HT burnt by Huobi Global as of March 15, 2020: 197,469,600 HT. The results of the token burn will be updated to the Token Burn History Log on March 15, 2020.
- Circulating Deflationary Rate: 1.32% (Note: Circulating Deflationary Rate = Current period total burn 4,213,900HT * 75%/239,398,600 HT)
- Remaining Total Supply: 302,530,400 HT
- Total In Circulation: 236,238,100 HT
HT/USDT Price Rose 49.1%
HT/BTC Price Rose 60.8%
Overview of the main activities of the Huobi Global in February
Huobi Chain Testnet was officially launched on February 29, 2020. HT will be Huobi Chain’s only utility token. When the Mainnet is operational, Huobi Chain will announce the HT-related events. Such as HT pledge to be a Super Node, etc.
Huobi has launched HT/USDT isolated margin trading with two times of leverage. HT deposit interest rates remain the same as other digital assets (hourly interest rate = 0.098%/24 * total amount of loans).
Huobi officially launched Huobi Thailand on February 28, 2020. It is Thailand’s fifth licensed digital asset trading company and the only compliant digital asset trading platform. Most in Thailand support buying HT with Thai Baht.
Huobi’s Dust-Sweep function and Huobi Pool’s support for HPT to HT swap conversion function on Huobi Pool was launched in February and early March, respectively.
The BW exchange, Crypto Guardian, and Fanbi (FBT) have listed HT as part of its ongoing efforts to increase application use and liquidity.
Huobi Global upgraded its VIP benefit structure on February 12, introducing the concept of Experience Points, whereby the more significant the accumulated experience points, the more VIP users can enjoy.
Upcoming plans for HT
The HBDM perpetual contract is expected to launch on March 27. The permanent contract business will also contribute to the burning of the HT token.
The development of the C2C lending function is progressing normally, and internal testing will begin on March 20. After launch, those who meet the HT holding requirements can lend assets like BTC. and USDT with certain benefits. HBDM’s effort to provide low-risk customers with HT loans as collateral for contract assets was progressing well and opened to market makers and VIP users on March 10.
Besides, Huobi Indonesia recently launched its HT/IDR trading pair on March 9 for Indonesian users.
Stage 2 of the Huobi VIP Structure will launch, allowing OTC, Huobi Pool, and Huobi DM’s trading and assets activities to create Experience Points, accelerate the promotion of users as VIP Huobi and will enable them to Enjoy exclusive benefits faster.
Important recent events of Huobi Global
Huobi Global officially launched the BTC project token DeFi. Launched by Huobi Global and deployed on the Ethereum network, Huobi BTC (HBTC) token aims to promote the growth of the decentralized market by pumping Bitcoin (BTC), the largest and most liquid asset, into the decentralized finance (DeFi) eco-system.
Huobi Japan, through various channels, purchased medical supplies to donate to China. In February, a total of 3,300 protective clothing and 6,000 pairs of shoes were donated to nine hospitals across the country.
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