Huobi Releases Details of the Huobi Token (HT) Buyback and Airdrop for Q3

via Huobi.com
Voyager
Voyager

Huobi Global, owner of the third largest cryptocurrency exchange by trading volume, has released the details of its recently completed Huobi Token (HT) buyback for the third quarter.

According to the announcement, 12,520,200 HT was repurchased, which roughly equals $20 million, and the tokens will be distributed to HT holders on the Huobi exchange via an airdrop.

Huobi notes that the airdrop will be based on snapshots of HT holdings on each day from July 1 to September 30, with payouts corresponding to total user holdings on each of those days. This airdrop will be paid out in three installments, with the first occurring today and the other two on November 15 and December 15, respectively.

Similar to stock buybacks and dividend programs that are commonly used in traditional equity markets, Huobi’s repurchase of its exchange token ultimately boosts the price of the token while further distributing it among retail investors.

Following the announcement, HT briefly jumped to $1.79 before settling around its current price of $1.64, giving the exchange token a market cap of $81.8 million and making it the 7th largest token in the AltDex Exchange Token Index (ALTEXC).

More: Huobi Token (HT) Q3 Buyback Information
Similar: Crypto Exchange KuCoin Extends Insider KCS Token Lockup Period

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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