Huobi Token (HT) Surges After Bitcoin Pizza Day Rebranding from Prime Lite to FastTrack
- Huobi Global held a promotion for Bitcoin Pizza Day by selling BTC at a significantly reduced rate.
- The Huobi Token jumped by 23% this week, and over 9% in the last 24 hours.
Huobi Global has been making waves in the crypto industry lately, with the launch of Prime Lite. However, three weeks later, the crypto exchange decided to rebrand the product to Fast Track, even though the product offering services were only just launched. Two days ago, the platform held a Bitcoin Pizza Day promotion.
Before becoming a part of FastTrack, interesting projects have to follow several prerequisites to qualify. According to Blokt, some of those requirements are:
- A good trading volume
- Strong community support
- The possibility of providing a 50% discount on about 500,000 USDT or its equivalent
- The readiness to work with the Huobi platform
Huobi plans to announce five candidates a month for the FastTrack platform, and the users of the Huobi platform will have the opportunity to vote each week on the projects, giving them complete control over which will be listed. Huobi will list the victorious project each week, which will be posted the same day that it wins the vote.
During a blog post, Huobi spoke about the eligibility of voters, along with the process, how the FastTrack Listing works, the burn of the Huobi Token, and the rewards applied during voting. Anyone that engages in the voting process would be eligible for a reduced price for the Huobi Tokens (HT).
The last few months of success seem to have boded well for HT, which has seen impressive performance lately. According to reports from Blokt, the token has risen by 30% over the course of the last week. Presently, it is trading at $3.24, seeing a 9.32% surge in just the last 24 hours. The official platform tweeted about their rise last night, though it has grown more since.
☑️Retweet to your followers
— HuobiGlobal 🌏 (@HuobiGlobal) May 24, 2019
In honor of Bitcoin Pizza Day, the Huobi community was provided with multiple discounts and other impressive deals to a few winners.
You are the proud winners of $BTC for $0.0031!
Huobi will send you a private message to claim your reward.
— HuobiGlobal 🌏 (@HuobiGlobal) May 22, 2019
During the event, there was 1.5 million USDT available in Bitcoin at a reduced rate. The promotion happened in two separate rounds, the first of which sold 20% of the available funds at a 50% rate. The second round sold the rest of the available BTC at a 12% discount. Still, there were three special winners that got the price that Bitcoin was sold at when the original pizza purchase took place – $0.0031 each. The event was so successful that even Charlie Shrem mentioned the event on a podcast.