HT Operation Monthly Report (July 2020)

Dear users,

Hello everyone! Thank you for your continuous trust and support to HT.
The detailed progress report on HT and Huobi Chain is as follows, please review.

 

Ⅰ. The amount of HT burned in July increased by 15.7% from June. Huobi Chain has completed the development of the core code of the mainnet

1. HT data

Huobi Global destroyed a total of 2.769 million HT (about 11.829 million USDT) in July, and the burned amount increased by 15.7% from June. As of August 15, 2020, Huobi Global destroyed a total number of 214.233 million HT.

The HT deflation rate of the month is about 0.92% (Note: HT deflation rate of the month = the total quantity destroyed in the current period 2.769 million HT* (15%/20%) / the total circulation volume in the previous period 225.733 million HT).

Total Amount of Existing: 285.766 million HT.
Total Circulation Amount: 223.656 million HT.
Number of HT users: up about 3.03% from June.

2. HT July events

① Huobi Chain has completed the development of the core code of the mainnet and entered the code audit stage. Stress tests have been launched and will be available in the fourth quarter.

② Huobi Japan Exchange launched HT on July 14th, and listed 6 trading pairs, further lowering the threshold for Japanese investors to trade HT.

③ On July 29th, according to the “FastTrack (11th) Voting Rules”, Huobi Global has completed the destruction of the HT obtained from the transfer of the voting projects LUNA (Terra) and CHR (Chromia) of that period, destroying a total of 35714.2 HT.

④ On July 10th, Huobi Global has launched 2 million HT-equivalent limited-time discount point cards for redemption, and the HT exchanged for the above cards will remain locked for one year. The move is in response to the suggestion of the HT community that Huobi officially sell discount cards and increase its holdings of HT.

3. Institutions see HT

① Odaily Planet Daily Research Institute believes that HT will become the most bet-worthy new core asset in the cryptocurrency world in the new decade

On July 28th, the Odaily Planet Daily Research Institute released a research report entitled "Betting on Core Crypto Assets in the New Decade: Interest-bearing Assets HT in the Context of Deflation". The report believes that whether from a functional point of view or from a supply point of view, HT is indeed a unique cryptocurrency investment category worthy of observation and analysis.

②CoinGecko report believes that HT is the best performing platform token in the second quarter

In July, the crypto asset data company CoinGecko released its second quarter report on the crypto market. The report shows that the top 5 platform tokens by market capitalization performed well in the second quarter, with an average return rate of 21%. Among them, HT is the best-performing platform token, with prices rising 25% in the second quarter, exceeding expectations.

(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. Huobi Global is already the exchange with the largest DOT trading volume, and Huobi options products will be launched soon

1. Huobi business development

① In July, Huobi Global launched DOT, KSM, and RVN tokens. According to Polkadot's official website, as of July 19th, more than 88% of newly mapped DOTs have flowed into Huobi. Huobi Global is already the world's leading exchange in terms of DOT trading volume.

② On July 10th, Huobi Contract officially disclosed that Huobi Contract will soon launch options products and is currently undergoing internal testing. The real-time settlement function of Huobi Contract has covered the three major types of delivery contracts and perpetual contracts of BTC, ETH, and LTC, which means that the Huobi Contract platform bears the "shared" risk on its own and maximizes the benefits of platform users. It is a major innovation of the global contract settlement mechanism and it also shows the strong risk control capabilities of Huobi Contract.

③ On July 14th, according to BTC.COM data, Huobi Pool's Bitcoin real-time computing power was 12288PH/s, temporarily ranking fourth in the entire network, and continuing to rank first among all exchange mining pools. In July, Huobi Mining Pool successively opened the lock-up business of NEO, NEST, THETA and KSM (Kusama), and carried out the "Huobi Mining Pool Spreading the NEST, Locking-up and Enjoying the Triple Rewards" activity.

2. Huobi News

① As one of the series of actions of the Huobi DeFi season,Huobi perpetual contracts of NEO, XTZ, ATOM, IOTA, ONT, XLM and XMR have been officially launched on July 22nd , Singapore time. At present, the Huobi Perpetual Contract has covered 20 mainstream varieties and supports 1x-125x multiples. Whether it is arbitrage or hedging, trading needs can be efficiently met.

② On July 15th, Huobi Brokerage's bulk over-the-counter trading business was officially launched, providing bulk OTC trading services of digital assets for its institutions and high-net-worth clients.

③ Huobi Japan officially joined the Japan Securitization Token Association (JSTA) in July. The Japan Securitization Token Association (JSTA) enhances the quality of securitization tokens through investigations and social popularization in the technical, legal, and commercial aspects of securitization tokens. While promoting the healthy development of the ecosystem, it also promotes economic activities and contributes to the healthy development of the Japanese economy.

 

Ⅲ. Media reports

1. Cointelegraph (Chinese) interviewed Zhu Jiawei, COO of Huobi Group

In July, Cointelegraph (Chinese) interviewed an industry veteran who has been working for 6 years--Huobi Group’s COO Zhu Jiawei. In the interview with Cointelegraph, Zhu Jiawei said: “The value of blockchain to the world lies in that it has changed the value transfer mode and commercial model of various industries; for you and me, it is a rare life opportunity."

2. Coin world: The 24-hour trading volume of Huobi's Bitcoin contracts exceeded US$11 billion

Coin World reported that according to Glassnode data, as of 10:30 on July 28th, the 24-hour trading volume of Bitcoin contracts on Huobi Global exceeded $11 billion, ranking first among global exchanges. At present, the total 24-hour trading volume of Bitcoin contracts on the TOP10 exchange is $30.86 billion, with the number one Huobi Global accounting for 30.9% of the world's total.

3. CryptoRank: Huobi contracts account for 52% of the total trading volume of Ethereum contracts

On July 30th, 2020, Ethereum celebrated its fifth birthday. At this particular point in time, the well-known data website CryptoRank counted the 24-hour trading volume of Ethereum contracts and found that Huobi, which accounts for 52% of the total trading volume of Ethereum contracts, has become this token’s largest trading platform.

See you next month, buddies.

Huobi Global
August 15, 2020

 

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