Over 827,000 $HT burnt by HuobiGlobal in Q1, 2023: Is this much for justinsuntron? Huobi Tron $TRX
The largest centralized exchanges send quarterly a portion of their revenue to buy back and destroy the share of native tokens in order to keep them scarce. Here's what the latest token burn announcements can tell about an exchange's revenue.shared by Huobi, a top-notch crypto exchange, 827,226 Huobi Tokens were burned in Q1, 2023. In total, during the entire lifetime of the token burn program, the exchange has destroyed almost 300 million HT.
Huobi, owned by Justin Sun, announced the Q1 HT report, burning 827,226 HTs, or about $3.31m. Huobi used 20% of the platform revenue for burning, so the platform revenue in Q1 is only about $16.55m.
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