Connect with us
CLOSE

Huobi News

Huobi Successfully Burned $40M HT Tokens In The Q3

Published

on

Huobi successfully burned

Huobi successfully burned 11.3 million Huobi Tokens worth more than $40 million as a part of the quarterly token burning scheme as we are about to read further in the Huobi News below.

The Singaporean exchange reports a very strong quarter of trading with continued growth across its spot and derivatives market. The latest Q3 burning of the total HT tokens burned to more than 30 million removing 13.8 percent of the circulating supply from the market. Many of the exchanges operate a buyback and burn system for their tokens and this is widely used in an attempt to drive demand by limiting the supply. For the preceding two quarters, Huobi successfully burned more tokens that its major competitor Binance.

In the Q2 this year, Huobi burned $53.6 million worth of HT compared to the $23.8 million BNB tokens. Now that the Q3 results are in, the crypto exchange Binance has narrowed the gap by burning $36.7 million in BNB but still over $3 million less than Huobi’s third-quarter buyback. In a press release accompanying the announcement, the CEO of Huobi Livio Weng stated:

 “The continued growth from Huobi’s token burns reflects the community’s active participation and optimistic outlook for our efforts to provide users with new services, lower fees, and a secure platform to trade on.”

The success of the burn shows the solid three months of trading and Weng pointed to the platform’s newer offerings as being much stronger drivers of growth. Huobi has been very active in releasing new programs and services for users over 2019. The exchange launched its Initial Exchange Offering (IEO) platform starting with the sale of the TOP token. Since then, there were five more successful offerings in almost all of the months. The IEO has proven to be a surprise hit in the blockchain crowdfunding this year and Huobi made a very timely precise entrance to space.

Huobi also introduced a limited-time VIP fee structure named All-Stars designed to provide low trading fees to those who trade the most on the exchange. This comes in the meantime to the launch of a derivatives trading platform Huobi DM which is expected to make a boost in the industry.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Huobi News

Huobi Exchange Accepts Russian Ruble (RUB) For Deposits

Published

on

By

huobi exchange
The Singapore-based Huobi exchange is in the crypto news today for announcing that its Moscow division will soon start accepting RUB for deposits. As the release notes, users of Huobi Russia would be able to deposit rubles into their wallets via bank transfers. An event in Moscow showed the exchange asserting that it would soon launch its own token listing service, too. Now, HBRU CIS will be in charge of the transactions processed through a bank in Uzbekistan. As the CEO of the Huobi exchange in Russia, Vladimir Demin said, HBRU CIS has secured approval from the Uzbekistan Justice Ministry. As such, the country is starting to look like a crypto-friendly nation which encourages people to invest in crypto through tax reduction and other incentives. The exchange will also be working with local institutions such as InfinBank and Demin. The Moscow division of the Huobi exchange will also develop its own exchange platform along with the creation of the RUB deposits. This would allow it to launch initial exchange offerings (IEOs). The platform enables users to choose a different selection from what the Huobi Prime launchpad grants. Before this, any project that aimed to launch a new token could only do it through the Huobi Prime. However, the new IEO platform by the Huobi exchange plans to have its own token to launch soon, which will be for the fees linked with their service. The Chinese branch of the Huobi Group recently announced its membership in the blockchain-based services network (BSN). The Huobi news at the time showed that the Chinese branch managed to reaffirm its relationship with the Chinese government by establishing a Communist Party of China branch in its local blockchain subsidiary named Beijing Lianhuo Information Services LLC.
“The network would be tested in 54 cities across the country as well as Hong Kong and Singapore for projects such as smart city management,” Wenchao Shi, president of China Union pay said.
The Huobi news also show that Huobi Global is meeting regulatory requirements and the exchange is on a good way to ramp up its user base and bring it to new heights.
`
Continue Reading

Huobi News

Huobi Debuts Its Brokerage Service, Supporting BTC And Five Stablecoins

Published

on

By

huobi debuts
The major crypto exchange Huobi is officially launching the first licensed digital asset brokerage, Huobi Brokerage. As Huobi debuts it, we can see that it is the fifth largest crypto exchange by daily trading volume and will now provide brokerage service to its institutional clients, as a press release from January 21 showed. The Huobi exchange said that this new brokerage branch is the first product launched under the Global Institutional Business (GIB) which is an institutional services-focused division established by it in November 2019. One unique feature as Huobi debuts its Brokerage unit is that the platform will be able to connect with other exchanges as well as over-the-counter (OTC) desks. A spokesperson from the exchange confirmed this in the latest news and told media that Huobi Brokerage is integrated with other crypto exchanges and OTC platforms via smart order routing technology in order to improve the price execution and boost liquidity. As Huobi debuts the crypto brokerage service, there is a total of six cryptocurrencies and stablecoins supported for block trades at launch. As the Bitcoin news now show, the service will initially support BTC as the only cryptocurrency in the broad sense. However, the rest of the coins will be represented by the Untied States-dollar pegged stablecoins. The list includes the major stablecoin Tether (USDT) along with Paxos Standard (PAX) token, the TrueUSD (TUSD) stablecoin, Circle's USD Coin (USDC) as well as the domestic stablecoin by Huobi known as HUSD. Readers following the Tether news can see that USDT is leading the way in the list of stablecoins. However, as Huobi debuts the launch it also said that support for other major cryptocurrencies such as Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH), EOS (EOS) and Litecoin (LTC) is expected to be available on the Huobi Brokerage by the end of January 2020. The vice president of global business at Huobi Group, Ciara Sun, also commented on the launch and noted that institutional investors and high net-worth individuals will be the major contributors to growth in the crypto economy in 2020. “By introducing institutional-grade products and liquidity solutions that cater to the needs of institutions and eliminate existing barriers, we’re aiming to help drive the entire crypto economy forward,” she concluded.
`
Continue Reading

Huobi News

Huobi Joins Turkish Blockchain Platform To Boost Local Ecosystem

Published

on

By

huobi joins
The major cryptocurrency exchange Huobi joins the new Blockchain Turkey Platform with a main aim of cooperating with local players on blockchain efforts. As we can see from the latest Huobi news, five months after entering the Turkish market the exchange joins this new platform as a 'Platinum' member. The announcement from January 15 shows that Huobi is active in the market. Founded by the Turkish Informatics Foundation in 2018, the Blockchain Turkey Platform (BCTR) is an independent, non-profit organization aiming to create a healthy blockchain ecosystem in Turkey. The platform has members from banking and finance as well as venture capital firms, and members from technology and crypto industries. As Huobi joins the Turkish blockchain association, it also becomes the first global exchange to become a member of BCTR, the press release notes. According to the General Manager of Huobi Turkey, Alphan Gogus, they all believe in the importance of maintaining blockchain-driven development together.
"We support BCTRs vision to secure Turkey's regional leadership in a decentralized system," he summarized.
For those of you who haven't been following the blockchain news, it is important to note that Huobi's Turkey efforts began when the company announced the establishment of a local office at the Eurasian Blockchain Summit last October. This was the time when the crypto exchange brought a lot of experts to the event, signalling their desire to support Turkey's blockchain efforts. Gogus also told the media that they are looking forward to cooperating with the Blockchain Turkey Platform via Huobi University. Now that Huobi joins BCTR, we can go back to the exchange's statement at the event which read:
"Huobi supports the growth of crypto and blockchain ecosystems globally. Turkey has the potential to become a pioneer in blockchain technology, both regionally and globally. By joining The Blockchain Turkey Platform, which drives local efforts in a cross-industry approach, we aim to exchange our global expertise and knowledge with key local players to boost the blockchain ecosystem."
BCTR is seen as a union which creates a multidisciplinary environment and enables key players from different industries to speed up the adoption of blockchain in the country.
`
Continue Reading

Huobi News

Huobi Partners With UAE Real Estate Firm, Enabling Crypto Payments

Published

on

By

Huobi debuts
The major crypto exchange Huobi partners with UAE real estate firm in the United Arab Emirates mainly to allow real estate investors to pay in cryptocurrencies. As the Huobi news now show, the Singapore-based exchange has entered the partnership with fam Properties, a tech-driven real estate agency that is based in Dubai. As seen from the announcement shared by the UAE business publication AMEinfo.com, the main goal is to offer crypto payment options for its real estate investors. Specifically, the update will enable fam Properties to accept payment in cryptocurrencies like Bitcoin (BTC), Ether (ETH), XRP as well as other major cryptocurrencies including stablecoins. While Huobi partners with the UAE real estate firm, the officials note that this partnership is mainly oriented in simplify investing in the country. Also, analysts in the cryptocurrency news say that the move will provide the market with more value, according to the CEO Feras Al Msaddi. He said:
“This partnership will provide our clients immense opportunity and the ease of investing in prime locations in the UAE. Cryptocurrencies are becoming an increasingly popular payment method all over the world, and this added choice will increase our property transactions and bring more value to the real estate market here.”
There is still an update expected by the firm and its plans when it comes to tackling the volatility linked to crypto markets. What's certain is that Huobi is legally compliant and licensed by Dubai Multi Commodities Centre (DMCC), an infrastructure provider for expanding commodities trading in the country.
"If someone wants to buy property and use crypto as a payment currency, then we will help facilitate that transaction and sell their cryptocurrency and make the payment to fäm in fiat currency,” said Mohit Davar, the co-founder of Huobi's over-the-counter (OTC) trading tesk at DMCC.
Davar continued, stating that the firm will provide fam Properties with liquidity and resources to facilitate virtual money payments for customers. According to reports, Huobi's OTC desk supports fiat currencies such as UAE dirhams, United States dollars, British pounds and Euros. Meanwhile, there has been a boom in the real estate market in UAE and more people are now embracing emerging technologies like blockchain and associated digital assets.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Huobi Successfully Burned $40M HT Tokens In The Q3

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Huobi Successfully Burned $40M HT Tokens In The Q3

ADVERTISEMENT

oasistrade banner

ADVERTISEMENT

300 250 - Huobi Successfully Burned $40M HT Tokens In The Q3
FO710FC3F2305 1 - Huobi Successfully Burned $40M HT Tokens In The Q3

ADVERTISEMENT

300 600 3 - Huobi Successfully Burned $40M HT Tokens In The Q3

Trending Worldwide