Huobi Global: Providing profit opportunities during a crypto winter
Since the crash of algorithmic stablecoin LUNA in early May, the crypto market has seen over US$45 billion lost in value, shattering the dreams of thousands of investors, some of who invested their life savings into what they thought was a safe haven.
Last week, crypto fund assets fell to their lowest point since July 2021, and Bitcoin (BTC) fell to a low of US$25,892 from a high of US$47,444 just two months ago.
Terra founder Do Kwon has since made efforts to recompense investors by creating a fork of the Terra blockchain through the construction of a new chain that does not include the UST stablecoin project. Naming the original chain as Terra Classic, Token LUNC, and the newly forked chain as Terra, Token LUNA, Kwon has been trying to rebuild the Terra ecosystem.
An initial sum of airdrops for the new LUNA tokens have been made to LUNA’s original token holders, and a plan for long-term, yearly distribution will be made over time in an attempt to compensate users based on the losses they have suffered. Since efforts from Kwon and various market players to stabilize the crypto space, BTC has recovered and stabilized at around US$30,000, with prices of another layer 1 tokens including ETH and SOL reaching stable levels as well.
During the market crash and time of immense volatility, Huobi’s first response has been to protect its investors, and offer other opportunities for trading profits. Shortly after the crash, Huobi’s derivatives and spots trading platforms delisted LUNA to protect against further damage to traders; as Terra 2.0 launched its recovery plan and airdrop, an immediate re-list of the new LUNA token was done to provide certain levels of compensation to the original investors. Since then, Huobi has also introduced new strategies and rewards backed by Huobi’s own liquidity to help investors break profit, even during a crypto winter.
Exciting Airdrops and Rewards
Earlier this month, Huobi Global introduced new innovative products and strategies that offered rewards of US$31 million a month. The series of promotional events aimed to attract more investors to the crypto space at all levels of financial knowledge and is the opening of a series of campaigns by Huobi such as PrimeList and PrimeEarn.
In March of this year, Huobi also launched the CandyDrop campaign, a promotional event that offered free token airdrops every day and a $4.34 million USDT prize pool in the past month. Results of the event were strongly positive, with a total of 1.25 million people participating, and over 320,000 participants successfully receiving airdrop rewards. One individual user won prizes worth 2,470 USDT based on the highest value on the day of listing.
Competitive Investing Strategies
While exchanges stand to gain through high trading fees and lower returns on deposit products, Huobi has worked to bring competitive rates that may help its users yield a better profit on deposit and derivative products. The debut of PrimeEarn, crypto-asset management, and deposit product, offered users notably high APYs for fixed deposits of mainstream assets. Users gained a chance to win up to 30% APY for staking mainstream crypto assets such as BTC, USDT, and ETH when they participated in Huobi PrimeEarn High-Yield Tuesday events.
The 20%-30% APY offered on USDT and ETH deposits with PrimeEarn are the highest rates offered on the market by crypto-asset exchanges today, as a result of Huobi’s dedication to providing competitive rates to its users, and are much more lucrative compared to rates of 7% on average for mainstream assets offered by exchanges such as Binance. As for PrimeEarn, the deposit pool accumulated throughout the past 5 events stands at a total of 660 million USDT, and rewards for users who participated in group competitions reached as high as 5 million USDT.
Aside from deposit products, Huobi also hosts competitive rebates for derivatives and became the first exchange to offer maker fee rebates for USDT-margined futures to all users, at a rate of 0.015%.
With more attractive returns and APYs, Huobi hopes to attract more users of all experience levels. Crypto-derivatives in particular can prove to be a beneficial way to safeguard investor pockets, especially during volatile market conditions, as they can diversify portfolios and offer sophisticated strategies. With trading products such as Huobi Options and Huobi futures, traders can speculate on future prices of an underlying asset for income at a much lower cost than the asset itself, or hedge the risk exposure of their existing positions.
An Expanding Global Market
An established digital asset trading platform, one that has endured nearly 9 years of market boom and bust, has capital liquidity deep enough and an ecosystem large enough to brace the impacts of an adverse market. Within the Huobi network are hundreds of localized business centers around the world, providing a myriad of assets and services that are unified to satisfy a wide range of trading needs and asset pairs to investors, anywhere and anytime.
Even during a market downturn, Huobi capitalizes on its mature corporate ecosystem to expand services in emerging markets and builds on its compliance capabilities by acquiring new licenses and regulated service entities. In recent times, Huobi announced the acquisition of Bitex, a regional cryptocurrency exchange with operations in Argentina, Chile, Paraguay, and Uruguay. This is the first in a series of expansionary investments and acquisitions planned for 2022, each of which is designed to accelerate Huobi’s global growth.
During the crypto winter, Huobi stays bullish with expansionary strategies and aims to help more users across the globe find new opportunities for trading, ultimately supporting the long-term growth of the cryptocurrency industry.
Disclaimer: This is a paid post and should not be treated as news/advice.