Dear Huobi Users,
Thank you for your continuous support and trust to Huobi Token.
Halfway through 2020, as of June 2020, more than 40% of the total HT, 211.428 million HT has been burnt.
Meanwhile, we launched multiple USDT trading pairs and initiated HT Lotto Programme. Huobi options will be live at a later date.
The detailed progress report on HT is as follows:
Ⅰ. The amount of burnt HT has exceeded 40% of its total amount, leading to the initial step into the world’s mainstream financial compliance market.
1. HT data
The cryptocurrency digital asset trading market entered a volatile consolidation phase in June, when the volume of digital asset trading plummeted to “about half size of the average daily trading volume” in May, according to a report from CryptoCompare. Huobi Global burnt a total of 2.416 million HT (about 10.219 million USDT), a month-on month drop of 26.1% in June in response to the market environment. As of July 15, 2020, Huobi Global burnt 211.428 million HT. HT deflation rate of the month is about 0.8% (Note: HT deflation rate of the month = the total quantity burnt in the current month, which is 2.416 million HT* (15%/20%) / the total circulation volume in the previous month, which was 227.581 million HT).
Total existing HT: 288.571 million HT.
Total Circulation Amount: 225.769 million HT.
Number of HT users: grew about 1.9% from May.
2. HT June Calendar Events
① Huobi Japan officially launched HT on June 16, leading to the initial step for HT to enter the world’s mainstream financial compliance market.
②Huobi Global has officially launched a series of “HT Lotto” activities on June 29. “HT Lotto” is an exclusive benefit for HT holders. The programme carries out superimposed airdrops or double rewards to the users from time to time whenever Huobi lists a new project or adds a new pair of trading.
③ Huobi Global provided 2 million HT equivalent time-limited discount cards, which only support HT for exchange. This part of HT will remain locked for one year.
④ Huobi Global launched the “C2C Loan Service” for HT holders on June 4 and topped the C2C mortgage leverage market within seven days after the launch. C2C loan is a matching service of digital asset lending and borrowing provided to users by Huobi Global.
⑤The HT web page was launched in June. To visit, click www.huobitoken.com. You will be able to learn the real-time information relevant to HT like monthly burnt, transaction fee discounts, lock-up HT for mining and more.
3. Institutional view on HT
①In an assessment report, TokenInsight concluded that fair amount of HT price should be set in the range between $6.28 and $6.94.
On June 3, world-renowned token data and rating agency TokenInsight released the “Exchange Platform Token Valuation Research Report | June 2020”. In the report, Huobi Exchange was rated as the Tier A category and Huobi Token (HT) was assessed as “Underestimation.”
The report mentioned that Huobi changed its HT burnt schedule from quarterly to monthly in 2020, thus releasing information to the market in a timelier manner, improving the transparency of the HT burnt plan and providing confidence to HT supporters.
②Decentral Park Capital concluded a 40% annual return on HT.
On June 17, New York-based renowned blockchain venture capital and digital asset fund Decentral Park released the “Platform Token Valuation Report”. According to the analysis of the report, HT’s price/asset ratio (PA) is 0.35, which is seriously undervalued; HT’s undervaluation/overvaluation index (U/O) is -0.65, which is relatively undervalued.
The report also analyzed HT’s earnings performance over the past year, with HT’s annual return of 40 per cent.
The content of the above report is published independently by a third-party research institution. Huobi Global only quotes part of the content and does not fully endorse its views. For the complete content of the report, please refer to the original report. Huobi Global does not take any legal responsibility for the content of the report.
Ⅱ.The Huobi Futures has the top performance in the forefront of the world, and the computing power of the Huobi Mining Pool jumps to the fifth place in the world.
1. Business Development of Huobi
①Affected by the volatile market, the overall trading volume of Huobi Global (spot + contracts) in June 2020 decreased by 31% compared with May 2020. According to the a report published by CryptoRank, the overall trading volume of Huobi Futures topped the crypto market share in June.
②On June 27, according to the real-time computing power of the BTC.com browser, as of 3:00 UTC on June 27, the computing power of Huobi Mining Pool had a 8.74% volatility in 24 hours, and the highest computing power rate has reached to 10035.03PH/s. On that day, it ranked fifth in the world with an averagecomputing power of 9790.03PH/s and continued to rank first in all exchange mining pools.
③According to the announcement on June 16th by ConsenSys official website, Huobi Wallet officially joined the ETH 2.0 pilot program of ConsenSys’s Codefi Staking platform, becoming the first batch of partners, and will take the lead in providing ETH2.0 mortgage services in the future.
④Progress of Huobi public chain: the functional test and performance test of public chain version 0.4 is in progress; the public chain security audit begins; the research and development progress of public chain mobile wallet is 20%; and the progress of blockchain browser 1.0 is 20%.
2. Huobi News
① Huobi Global adjusted the professional user rate standard on June 16, and lower the holding barrier to 2000 HT. This move will enable more users to join the HT burning ecology.
②Huobi VIP 2.0 was launched on June 22, in which the VIP level was determined by the firepower value, and the rate of obtaining the firepower value of holding the HT was raised again.
③On June 15, Huobi’s bi-quarterly contract was officially launched, at the same time, the trading functions on the Huobi’s suite of derivative products have been further optimized. The user’s trading experience and system performance have been greatly improved.
④On June 8, Huobi Wallet App added support for Tezos, a European project known as LPOS consensus. Users can transfer, store and bake (Baking means pledge rights) XTZ through Huobi Wallet. So far, the number of main chains supported by Huobi Wallet has reached to 19.
⑤Huobi Mine Pool added “lock ADA (Cardano) for mining on June 4 and offered double rewards. The sales of the Bitcoin and USDT dual currency products at the Huobi Mine Pool have increased sharply in June, and the products are under continuous developing migrations.
⑥Huobi and global partners have launched Huobi Peak Dialogue, a type of online AMA live events namely “Waiting For ETH2.0” series,. The in-depth dialogue came from top-tier tycoon, senior experts and community KOLs in the blockchain industry. The event “Ethereum DeFi Which Makes Waves” has successfully closed on June 24.
III. Media reports
1. The Time Finance reported that Huobi managed amount of $5.427 billion crypto assets and is one of the best performing global exchanges in terms of liquidity
Acording to the BitUniverse Exchange Transparent Digital Asset Ranking, as of June 30, the digital assets managed by Huobi Global were US$5.427 billion (407,500 BTC+4.7793 million ETH +620 million USDT). Huobi Global manages the largest mount of user assets among the global exchanges.
According to CoinMarketCap, as of 17:00 on June 30 (GMT+8), the average liquidity index score of Huobi Global was 586 points, which topped the no. 1 in the liquidity index category among global exchanges.
2. Coindesk quoted CryptoCompare report: Crypto asset derivatives transactions hit a record in May, Huobi has the largest trading volume among exchanges.
Coindesk reported on June 4, citing the latest CryptoCompare report, which revealed that the trading volume of crypto asset derivatives in May increased by 32% from April to $602 billion, exceeding the $600 billion record set in March and reaching a new all-time high. Huobi derivatives transactions were the largest, with a trading volume of US$176 billion, up 29% from April, according to the report.
3. China.com.cn reported that Huobi Charity was selected into the double list of “China Charity Ranking”
On June 18, China.com.cn reported that Huobi Group’s “Huobi Charity” was successfully selected into the “China Charity Enterprise Donation List” and “Anti-pandemic Donation List” for its charitable responsibilities and missions that it has been performing for many years and its actions in the fight against the COVID-19 pandemic in the first half of this year. Huobi also won the title of “Annual Charity Model” together with PetroChina and SF Fund.
Some of our attentive companions may find that many of our actions this month come from the suggestions that the Huobi community gave us. Creating value for users is our unchanging pursuit. Every step of our progress is inseparable from every one of our companions.
At the height of summer, the global economy still faces many challenges. Let’s overcome the difficulties together and carry on the past and forge ahead into the future. See you next month, buddies.
July 15, 2020