According to Huobi Global’s monthly operating report, the blockchain company generated about $68.63 billion in trading volumes in Q1, while burning $138 million in $HT.
Huobi Global experienced a bump in trading volume in the first quarter of 2021. Generating about $68.63 billion in trading volume according to TokenInsight’s Q1 Spot Market Research Report. The exchange came out first in the $50 – $100 billion trading volumes category.
In addition to that, the leading blockchain company confirmed burning $138 million of the firm’s branded exchange token, Huobi Token ($HT.) The Huobi Token, which fuels activity on the digital asset exchange company’s ecosystem – each quarter – is bought back by the firm (about 20% of exchanges revenue) periodically, through the open market, and burned, as part of the token’s economics program.
“The excellent performance figures in HT stem our core trading business. We have recorded a $68.63 billion trading volume in Q1, according to the data released by TokenInsight’s 2021 Q1 Spot Market Research Report. Huobi has ranked first among exchanges with spot trading volume between US$50 billion and US$100 billion during this period,”
Ciara Sun, Vice President of Huobi Global Markets.
Huobi Token plays a myriad of roles in the Huobi ecosystem, the firm burns $HT tokens used in asset listing votes, Huobi Prime ticket sales and other on-platform activities. The $HT exchange-native asset, also sees a lot of use on the firm’s HECO blockchain platform, as a staking option, which incentives token holding.
