Despite the ongoing market sell-off, Huobi (HT), the native currency of Huobi Global, a market-leading Bitcoin (BTC) exchange, is trading in the green following Huobi’s tweet on the completion of “HUGE $HT burns.”
While others in the market, including top ones, are struggling and facing lows, HT has consistently been increasing. It’s grown by 4.3% within the last 24 hours and 10% in the past week alone.
According to Nomics statistics, the token’s price is currently $7.82, with a market valuation of $1.61 billion, a gain of 2.26% over the previous 24 hours. However, CoinGecko’s statistics show that the cryptocurrency is still priced 80% below its All-Time High on May 12th of last year.
However, the token’s value has climbed by 90.8% after comparing the current price with the previous 14 days’ price history. As per the data from Coinmarketcap, the average monthly lowest price is $4.37, while the average monthly maximum price is $4.70.
In addition, the price fluctuated during the previous 90 days from a minimum average price of $4.30 to a high average price of $4.68, a variation of almost 41.29%. However, the token has demonstrated a growth pattern over the past four months.
Huobi’s “Monthly” Burn Of HT
Huobi Global tweeted on October 19th that it had just finished burning huge amounts of Huobi Tokens (HT). It burned 295.509 Million; this accounts for 59.10% of all HT in circulation.
The exchange burned 411,000 HT in September 2022, equivalent to around $1.863 million, which is 1.23% less than in August 2022. Additionally, the total number of HTs that have been burnt as of October 15th, 2022, is 295.509 million.
Compared to September 2022, the company burned 3 million HT worth $38.881 million in September last year, an increase of 11.60% from August of the year, and the cumulative total of burned HT was 283.390 million as of November 15th, 2021.
Moreover, “HT Operations Monthly Report September 2022″ noted that the data by TokenInsight found that the company’s spot and derivative products generated more than $60.05 billion in revenue in September.
The company offers a variety of opportunities for its customers during the month of September, including the event to commemorate ETH 2.0: Join Huobi Global Trading Contest and Share the 2,000,000 USDT Prize Pool, Huobi Futures’ rollout of the super trial bonus giveaway, and others.
Furthermore, the company’s announcement on Twitter this morning also included some other exciting news for their users: for “Best service,” there is no longer a fee to trade in HT/USDD pairs.
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