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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.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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The annual Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but bitcoin treasury company Strategy hung onto its spot.
What to know:
- Strategy (MSTR) will remain in the Nasdaq 100 index despite a major reshuffle, which saw several household names dropped.
- The firm's business model, which involves stockpiling bitcoin, has drawn criticism from analysts and index providers, with MSCI considering excluding crypto treasury companies from its benchmarks.
- The Nasdaq 100 rebalance saw six companies dropped and three new additions, with changes taking effect on December 22, but Strategy's bitcoin-heavy strategy secured its spot.
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