Huobi Global Destroyed 411,000 HT In September, Worth About $1,863 Million

The report shows that Huobi Global burned 411,000 HT (approximately 1,863 million USDT) in September 2022. According to the HT Token destruction plan launched by Huobi earlier, Huobi Global will use about 15% of its revenue to buy HT and destroy it, so sales for September were about $12.4 million.

On October 15, cryptocurrency exchange Huobi released its September activity report. In the report, Huobi Global burned 411,000 HT (about 1,863 million USDT) in September 2022, down 1.23% from the previous month.

As of October 15, 2022, Huobi Global has destroyed a total of 295.5 million HT. The current HT supply is 204,490,828 units and the number of HT in circulation is 162,683,587 units. The number of HT holders in September decreased by 4.45%. Meanwhile, Huobi Global’s trading volume has exceeded $60 billion.

As was updated in a previous Coincu News article, earlier this month, it was announced that Huobi Global had been acquired by an M&A fund in Hong Kong. Although there are many doubts that Justin Sun is really the new owner of this cryptocurrency exchange. However, the TRON founder said he only holds the position of its global advisor.

In a recent interview Justin Sun revealed his holding of tens of millions of HT (Huobi’s token) due to accumulation. Sources quickly discovered, 74 million Huobi Tokens (HT) were transferred from Huobi’s official wallet to 2 new wallet addresses that are suspected to belong to the founder of TRON as the first transactions were from Justin Sun’s Poloniex exchange.

Currently, the price of HT is down 7.81% in 24 hours after an increase of nearly 80% continuously within 7 days since the information on the acquisition was announced. HT is currently trading at $6.7374.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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