Leading crypto platform Huobi Global announces that it burned $12.7 million worth Tokens

Leading crypto platform Huobi Global announces that it burned $12.7 million worth Tokens

Huobi Global, one of the world’s largest digital asset exchanges, said on January 15 that in December 2021, it destroyed 1.31 million Huobi Tokens (HTs) worth $12.68 million. Huobi Global consumed 290.174 million HT between January 1, 2021, and January 15, 2022.

Token burning is the process of permanently withdrawing crypto tokens from circulation in order to reduce the supply of a token. For example, Huobi Global burns 15% of its sales every month and allocates another 5% of overall income to rebuy and burn a part of HT utilised for team incentives.

The total number of HT in circulation is 209.83 million, with 166.69 million currently in circulation. In December 2021, HT holders had a 9.87 percent boost in growth.

Huobi Global’s Primelist events resumed with three different token listings. The market valuation of tokens featured on Primelist has been consistently rising, indicating that there is still a lot of interest in these coins.

The public sale for DeFi’s newest cutest meme token has begun. In addition, the mascot of the new NEXT Smart Chain, which is ultra-fast and ultra-cheap, has arrived.

Meme tokens have recently surpassed many conventional cryptocurrencies in terms of popularity, owing to their distinctive broad appeal. NEXT SHIB is the newest meme coin to enter the market, which DOGE and Shiba Inu have previously dominated.

This ensures a constant increase in value and the ability to accumulate money for early adopters.

According to Bloomberg, Binance CEO Changpeng Zhao is the world’s 11th wealthiest person, with a net worth of roughly $96 billion, making him the cryptocurrency’s biggest billionaire.

CZ’s holdings of crypto assets like Bitcoin and Binance Coin were not included in Bloomberg’s calculations, implying that the $96 billion figure could grow significantly in the future.

Bill Miller, a well-known investor, has invested half of his fortune in Bitcoin, as have big industry firms, including Michael Saylor’s MicroStrategy and BTC mining outfit Stronghold Digital Mining.

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