Share this article
Huobi Global Token Burn Spikes 55% in August, Indicating Strong Revenue Gain
The sharp increase in token burn contrasts to a steep drop in July.
By Eli Tan
Updated May 11, 2023, 4:02 p.m. Published Sep 17, 2021, 6:18 p.m.
Huobi Global, one of the world’s largest crypto exchanges, burned over $35 million worth of its tokens in August, the company announced Friday. The increase indicates strong revenue growth for the month.
- The exchange’s token burn last month was 55% more than in July.
- Burn total is positively correlated to revenue so a rise in token burn indicates revenue growth. Token burning is a process where crypto coins are removed from circulation to keep inflation low.
- Huobi told CoinDesk it burns 15% of its revenue and allocates 5% of total income to repurchase and burn a portion of its Team Incentive Rewards.
- The company rebounded from burning just $22.3 million of its Huobi token in July, a 54% decrease from its total burn volume in June.
- Jeff Mei, director of global strategy for Huobi Global, expects that the crypto market “will continue to thaw in the next few months,” and that the company will continue to see a steady rise in its burn volume, he said in a press release.
- The exchange plans on increasing its revenue with a series of incentive programs and PrimePool events, which encourage staking assets on the platform. Huobi recently launched its Futures Masters Contest on Sept. 2, which offered a $120,000 prize pool.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
Top Stories
