Huobi’s stable coin has struck another 4,200,000 HUSD. Today it is 4/20, which almost certainly cannot be a coincidence.

Huobi is spending more and more of his stable coins – and has just spent $ 4.2 million in honor of today’s little “party”.

As Whale Alert (@whale_alert) reported, the stablecoin was issued earlier today.

Hsaka (@HsakaTrades) noticed the funny coincidence and many others decided to join the prank.

Huobi’s stable coin was relatively quiet for some time, but started issuing HUSD again in February. However, stablecoin is behind larger backed exchanges like Binance USD (BUSD).

Huobi blockchain phone

The March bleeding shook the market, with some exchanges gaining volume while others suffered. As BeInCrypto reported, the futures markets are from Bitcoin

The exchange has also followed in Binance’s footsteps to help the victims of the coronavirus. The exchange promised 10 million yuan to help those affected by the virus. That’s about the same amount that Binance also promised.

Huobi has tried to further popularize the trade in its stable HUSD coin, but acceptance is still poor. At the time of writing, Huobi USD has a market capitalization of $ 148 million but a trading volume of only $ 20 million. In comparison, Binance USD (BUSD) has a market capitalization of USD 203 million and double the trading volume.

Maybe Huobi wanted to improve the profile of his stable coin by joking around 4/20. However, this will not be enough to increase the trading volume. Huobi will have to do a lot more if he wants HUSD to be a serious competitor, and his influence on the market remains minimal for the time being.

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As a leading blockchain and fintech news company, BeInCrypto always strives to comply with strict editorial guidelines and the highest journalistic standards. With this in mind, we always encourage and encourage readers to do their own research into the information contained in this article. This article is intended as news and is for informational purposes only. The topic of the article and the information provided may have an impact on the value of a digital or cryptocurrency asset, but is never intended. Likewise, the content of the article and the information contained therein do not intend and do not intend to provide sufficient information for a financial or investment decision. This article is not expressly intended as financial advice, it is not financial advice and should not be construed as financial advice. The content and information in this article have not been prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making an investment decision. The author of this article may have any amount of Bitcoin, cryptocurrencies, other digital currencies, or financial instruments at the time of writing, including but not limited to those listed in the content of this article.


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