Huobi Buysback $24 Million HT

huobi token price sep 2020

One of the biggest crypto exchange handling some $2 billion in daily trading volumes has burned 4.872 million Huobi tokens (HT), worth about $24 million. “The month on month burnt HT has increased by 97%,” they say while the “circulation deflation rate for the month is about 1.63%.” So the supply is decreasing by 1.63% a month, with Huobi stating their trading volumes have doubled recently. Some of their profits are meant to go towards this token that has a total supply of 500 million HTs. A cool 219 million has been burned, with some 100,000 of it destroyed in just the past two months: The zero address is the ethereum network address. It’s ‘owned’ by the eth nodes, as in the protocol itself, with it not having a private key. So this 219 million has gone now with it unable to exchange hands any further as the tokens have…

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