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Huobi Burns 235% More HT in Q2 as Revenue Crosses $26 Million

Published 16/07/2023, 08:20
© Reuters. Huobi Burns 235% More HT in Q2 as Revenue Crosses $26 Million

  • Huobi burned 1.95 million HT in Q2 2023.

  • This burn contributes to 298.9 million HT burned as of July 15, 2023.

  • In Q1, the exchange burned 827,226 HT.

Chinese reporter Colin Wu took to Twitter to share the latest development from the renowned crypto exchange Huobi. According to the tweet, Huobi burned an impressive 1,950,555 Huobi Tokens (HT) during the second quarter of 2023.

The 1.9 million burnt tokens result from Huobi allocating 20% of its revenue towards the burning mechanism. Based on this burn amount, given that HT trades at $2.77, it can be estimated that Huobi’s revenue in Q2 reached around $26 million, a significant increase from the $16.55 million revenue reported in Q1.

This recent burn contributes to a cumulative burn total of 298,940,224 HT as of July 15, 2023, showcasing Huobi’s commitment to reducing the circulating su…

The post Huobi Burns 235% More HT in Q2 as Revenue Crosses $26 Million appeared first on Coin Edition.

The post Huobi Burns 235% More HT in Q2 as Revenue Crosses $26 Million appeared first on Coin Edition.

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