Huobi Token July Report Reveals Completion of Mainnet Core Code and 2.76 million HT Burn of the Month | Virtual-Strategy Magazine

LONDON, Aug. 18, 2020 /PRNewswire/ — Huobi Global released the Huobi Token monthly report for July.


1.  The month-on-month burnt HT amount in July has increased by 15.7%.
2.  Huobi Chain has completed the mainnet core code. 

Key data of Huobi Token as of August 15th, 2020:

1.  Current number of Huobi Tokens: 285.766 million HT 
2.  Total Circulation Amount: 223.656 million HT
3.  Number of Huobi Token users has increased by 3.03% in July.

In July, Huobi Global has burnt 2.769 million HT (about $11.829 million) in July, a 15.7% growth compared to June. As of August 15th, 2020, the total burnt Huobi Token has reached 214.233 million.

The HT deflation rate of the month is about 0.92% (Note: HT deflation rate of the month = total HT burnt in July, 2.769 million HT/total circulation volume in the previous month 225.733 million HT)

Huobi Token July Event Calendar

1)  In July, Huobi Chain has completed the development of mainnet core code. Huobi Chain will audit the codes and is currently conducting stress tests. The mainnet will be available in the fourth quarter of 2020. 

2)  Huobi Japan has launched Huobi Token on July 14th, and listed 6 trading pairs.

3)  Huobi Global has burnt 35,714.2 HT obtained from projects LUNA (Terra) and CHR (Chromia) according to the “FastTrack (11th) Voting Rules.”

4)  On July 10th, Huobi Global has launched 2 million HT-equivalent limited-time discount point cards for redemption, and the HT exchanged for the above cards will remain locked for one year. The move is in response to the suggestion of the HT community that Huobi officially sell discount cards and increase its holdings of HT.

How institutions see HT

Odaily Planet Daily Research Institute believes that HT will become the most bet-worthy new core asset in the cryptocurrency world of the new decade.

On July 28th, the Odaily Planet Daily Research Institute released a research report titled “Betting on Core Crypto Assets in the New Decade: Interest-bearing Assets HT in the Context of Deflation”. The report believes that whether from a functional point of view or from a supply point of view, HT is indeed a unique cryptocurrency investment category worthy of observation and analysis.

CoinGecko report believes that HT is the best performing platform token of the second quarter

In July, the crypto asset data company CoinGecko released its second quarter report on the crypto market. The report shows that the top 5 platform tokens by market capitalization performed well in the second quarter, with an average return rate of 21%. Among them, HT is the best-performing platform token, with prices rising 25% in the second quarter, exceeding expectations.

(The content of the above report is published independently by a third-party research institution. Huobi Global only quotes part of the content and does not fully endorse its views. For the complete content of the report, please refer to the original report. Huobi Global does not take any legal responsibility for the content of the report.)

Huobi Global is already the exchange with the largest DOT trading volume, and Huobi options products will be launched soon

1. Huobi business development

①  In July, Huobi Global launched DOT, KSM, and RVN tokens. According to Polkadot’s official website, as of July 19th, more than 88% of newly mapped DOTs have flowed into Huobi. Huobi Global is already the world’s leading exchange in terms of DOT trading volume.

②  On July 10th, Huobi Contract officially disclosed that Huobi Contract will soon launch options products and is currently undergoing internal testing. The real-time settlement function of Huobi Contract has covered the three major types of delivery contracts and perpetual contracts of BTC, ETH, and LTC, which means that the Huobi Contract platform bears the “shared” risk on its own and maximizes the benefits of platform users. It is a major innovation of the global contract settlement mechanism and it also shows the strong risk control capabilities of Huobi Contract. 

③  On July 14th, according to BTC.COM data, Huobi Pool’s Bitcoin real-time computing power was 12288PH/s, temporarily ranking fourth in the entire network, and continuing to rank first among all exchange mining pools. In July, Huobi Mining Pool successively opened the lock-up business of NEO, NEST, THETA and KSM (Kusama), and carried out the “Huobi Mining Pool Spreading the NEST, Locking-up and Enjoying the Triple Rewards” activity.

Huobi News

1)  As one of the series of actions of the Huobi DeFi season,Huobi Futures has listed NEO, XTZ, ATOM, IOTA, ONT, XLM and XMR to its suite of perpetual swaps on July 22nd. At present, the Huobi Perpetual Swaps has covered 20 mainstream varieties tokens and supports 1x-125x leverages. Trading demand for arbitrage and hedging can be efficiently met.

2)   On July 15th, Huobi Brokerage’s bulk over-the-counter trading business was officially launched, providing bulk OTC trading services of digital assets for its institutions and high-net-worth clients.

3)  Huobi Japan officially joined the Japan Securitization Token Association in July. The Japan Securitization Token Association enhances the quality of securitization tokens through investigations and social popularization in the technical, legal, and commercial aspects of securitization tokens. While promoting the healthy development of the ecosystem, it also promotes economic activities and contributes to the healthy development of the Japanese economy.

Media reports

1. Cointelegraph interviewed with Zhu Jiawei, COO of Huobi Group

In July, Cointelegraph (Chinese) interviewed an industry veteran who has been working for 6 years at Huobi Group, the COO of Huobi Robin Zhu. In the interview with Cointelegraph, Zhu Jiawei said: “The value of blockchain to the world lies in that it has changed the value transfer mode and commercial model of various industries; for you and me, it is a rare life opportunity.”

2. The 24-hour trading volume of Huobi’s Bitcoin contracts exceeded US$11 billion 

Coin World reported that according to Glassnode data, as of 10: 30 on July 28th, the 24-hour trading volume of Bitcoin contracts on Huobi Global exceeded $11 billion, ranking first among global exchanges. At present, the total 24-hour trading volume of Bitcoin contracts on the TOP10 exchange is $30.86 billion, with the number one Huobi Global accounting for 30.9% of the world’s total.

3. CryptoRank: Huobi Futures accounts for 52% of the total trading volume of Ethereum contracts

On July 30th, 2020, Ethereum celebrated its fifth birthday. At this particular point in time, the well-known data website CryptoRank counted the 24-hour trading volume of Ethereum contracts and found that Huobi, which accounts for 52% of the total trading volume of Ethereum contracts, has become this token’s largest trading platform. 

See you next month, buddies.

SOURCE Huobi DeFi Labs