Huobi Crypto Exchange Completes $20 Million HT Buyback and Airdrop Distributed

Huobi Reveals Details of its Recently Completed Huobi Token (HT) Buyback and Airdrop for Q3

Huobi Global, the parent company of Huobi cryptocurrency exchange has revealed specifics of its recently completed Huobi Token (HT) airdrop and buyback for Q3. The announcement showed that the company had purchased 12,520,200 HT, which is approximately $20 million.

The tokens, according to Huobi, will be distributed among HT holders on the company’s cryptocurrency exchange via airdrop. The details as revealed on twitter were as follows:

Airdrops to Be Based on HT Holdings From July 1 – September 30

The announcement went further to details that release of airdrops will be based on users’ HT holdings on every day from July 1 – September 30, which as per the company, will be proven by snapshots. In light of this, the pay-outs will correspond to the total holdings of HT by the users on each of the stipulated days.

Huobi expects to continue making payouts in three installments. The first started yesterday, October 16, 2018, with the other two being scheduled for November 15 and December 15 respectively.

Just like dividend programs and stock buybacks that are carried out in traditional equity markets, the company’s purchase of its native token will help boost the prices of Huobi, whilst further distributing among retail investors.

After the announcement, the price of the HT token increased to $1.79 and finally settled to $1.64. The exchange token, on the other hand, recorded a market cap of $81.8 million, making it the 7th largest, according to AltDex Exchange Token Index (ALTEXC).

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide