HTX (formerly Huobi), a famous cryptocurrency exchange, made a new announcement for several altcoins. In its announcement, the stock exchange announced its decision to delist 5 altcoin projects. Here are the details…
HTX said “delist” for 5 altcoins
HTX Exchange has announced plans to delist five tokens, in a move aimed at supporting the integrity of the Blockchain ecosystem. These 5 altcoins are: EGAME (EVERY GAME), FIU (beFITTER), HOOP (Chibi Dinos), LYM (Lympo) and RUFF (Ruff Chain). This delisting is scheduled to take effect on October 26, 2023 at 11:00 AM ET. According to the statement, the decision to halt trading of these tokens is in line with HTX’s promise to maintain a robust and secure crypto trading environment. The delisting will impact trading services. However, it will not affect the withdrawal of these tokens, which will continue to be used by users. Important points to note regarding removal from this list are:
- 1. Stopping the Transaction: Following delisting, EGAME, FIU, HOOP, LYM and RUFF tokens will no longer be traded on the HTX Exchange. Users are advised to cancel open orders for these tokens immediately.
- 2. Withdrawal Service: Although trading services for these tokens will be closed, the withdrawal service will remain accessible, allowing users to move their assets as needed.
- 3. Automatic Order Cancellation: All open orders for EGAME, FIU, HOOP, LYM and RUFF will be automatically canceled once they are removed from the list. The relevant crypto assets in these canceled orders will be deposited into the users’ Spot accounts.
- 4. Visibility of Balances: In case users cannot see their balances for EGAME, FIU, HOOP, LYM and RUFF, they are advised to uncheck the “Hide small balances” option in their Spot account.
Huobi continues to burn me
Meanwhile, there are important developments in the Huobi (HTX) ecosystem. The exchange officially announced its intention to burn 2,062,217 Huobi Tokens (HT) in the third quarter of 2023. As a testament to its commitment, the exchange allocates a significant 20% of its revenue to the altcoin burn process. This translates to an estimated revenue of approximately $24.75 million in the third quarter of 2023. Notably, altcoin burning occurred in the previous two quarters, generating $16.55 million in revenue in Q1 and $26.91 million in Q2. In the second quarter of 2023 alone, 1,950,555 HT were successfully burned. Thanks to this burning mechanism, the total number of HT burned as of July 15, 2023 reached an impressive figure of 298,940,224. This ongoing effort is set to have a significant impact on the dynamics and ecosystem of the HT token.
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