Of bulls and bears: Crypto giant Huobi Global beats the odds
Just five months ago, investors were enjoying the profits and excitement associated with a bull market, with some predicting that Bitcoin could reach a high of 100,000 or even 200,000 USDT. However, the crypto assets have since experienced a steep decline since January 2022 – LUNA fell to US$0.69 from last month’s high of US$119.55, and the de-pegging of TerraUSD (UST), the world’s third-largest stablecoin by market cap, has added to fear and trepidation in the market and sparked massive selling.
The collapse of crypto prices will undoubtedly impact the entire encryption ecosystem. Despite this overwhelming negative sentiment, however, Huobi Global, one of the world’s leading crypto exchanges, is giving out 37 million dollars worth of rewards in a month, offering users an opportunity to earn high returns even in a bear market, a refreshing change targeted at adding some measure of positivity to a dismal situation.
Globalization has led Huobi to constantly innovate its business to provide different investor types with positive experiences in their digital currency trading journeys. In order to attract more participants to the crypto space so more can enjoy the benefits brought by the ecosystem, Huobi is introducing a series of exciting campaigns such as Primelist, PrimeEarn and Candydrop. By equipping investors at various levels with wealth-making opportunities, Huobi Global is committed to becoming a key pillar supporting global cryptocurrency trading and ecosystem expansion.
Users who have never been exposed to cryptocurrencies usually face two major problems: 1. How to buy coins and trade; 2. How to avoid losses? Obtaining high returns with low risk is a scenario that many novice users can’t fathom unless they rely on luck. In order to encourage users to engage with and understand cryptocurrencies, Huobi Global launched the Candydrop campaign in March this year, enabling users to win FREE token airdrops.
After receiving their airdropped tokens, users can either hold them for a long time and wait for appreciation, or open long or short positions at zero cost to experience derivatives trading. Enjoying buying low and selling high at the spot market is also a great option. By launching CandyDrop campaigns daily, Huobi Global not only opens the door for users to enter the cryptocurrency world but also provides users with an alternative investment option when the US dollar is experiencing price instability. Such a strategy works two-fold – it also improves the exchange’s liquidity and further tightens the ecology of the exchange.
There is no free lunch – or is there? People may wonder what traps might await participants of the FREE token airdrops. There are a few eligibility requirements: Users can register for CandyDrop each time their average daily spot trading volume for the three days preceding event registration exceeds 100 USDT. According to data released by Huobi Global, a total of 1.46 million people participated in the CandyDrop events in the recent month, which offered a shared 5.6 million USDT prize pool; of these, more than 286,000 participants successfully obtained airdrop rewards. The events saw two individual users win rewards worth 2,090 USDT based on the highest price at the listing day.
Experienced investors will usually research or have requirements for the project that they may invest in. Common questions would include: what are the strengths of the project? Does the project team have a proven background? Is the project backed by technology that may have a global impact? How is its community base? These are all factors for investor consideration. However, all of this requires time and effort, and investors without professional knowledge may likely be deceived by certain “packaged” project parties.
As a world-leading crypto exchange, Huobi Global is committed to providing investors with access to multiple cutting-edge projects. Launched last year, Huobi Primelist is a program that provides a safe and convenient way for users to invest in these projects. All projects listed are subject to strict screening and evaluation by a highly qualified in-house team before they are allowed to go ‘live’ on the exchange.
Primelist allows investors to buy newly listed tokens at their listing price without participating in a project’s initial exchange offering.
In the past month, more than 390,000 users participated in the six PrimeList events, among which 89,107 users were qualified to purchase tokens at the listing price. The events saw an individual user win US$1700 worth of token rewards. The total token pool shared by winners stands at 23.49 million USDT. Most projects listed on PrimeList saw their value increase by up to 20x in record time.
Professional investors possess the need to ensure every cent in their portfolio is wisely allocated. For example, they may invest a larger proportion in fixed deposits, a moderate proportion in crypto-asset holdings, and a small proportion in futures or options trading. However, most deposit products offered for mainstream assets are flexible deposits with tiered APYs.
Taking Binance’s USDT deposit plan as an example, the APY for the amount exceeding the first 2,000 USDT is 3%, and APY for the amount exceeding the first 75,000 USDT is only 1%, which deems Binance a rather unattractive option for investors who wish to deposit large amounts of digital assets.
In order to add spice to the crypto assets deposit landscape, Huobi Global introduced PrimeEarn, a crypto-financial management product that focuses on offering high APYs for fixed deposits for mainstream assets. Through participating in Huobi PrimeEarn High-Yield Tuesday events, investors stand to gain up to 40% APY for staking mainstream crypto assets such as BTC, USDT, and ETH for 14 days. The platform sets no cap on the amount that an individual can deposit. The 20% – 40% APY offered for USDT and ETH deposits are the highest in the market today, deeming PrimeEarn an enticing proposal in today’s competitive marketplace.
The total deposit pool accumulated by PrimeEarn in the past month (five events) stands at 660 million USDT, and the total interest is given out hits 2.5 million USDT. Additional perks for users who participated in group competitions stood as high as 5 million USDT. The 13th PrimeEarn saw all of its products sold out within 52 seconds.
The cryptocurrency industry has affected society as we know it in a unique manner. The short-term price drops currently being experienced is a storm that must be weathered. Exchanges like Huobi Global aim to protect users from losses by providing additional opportunities for wealth gaining during a time when people may be discouraged or no longer have faith in this burgeoning new industry.
Launched in 2013, Huobi Global is one of the few cryptocurrency exchanges that rank in the global top ten for both spot and derivatives trading. Serving tens of millions of users across 160 countries worldwide, Huobi Global offers services for spot and derivatives tradihng, NFTs, and more. Huobi believes that providing users with wealth opportunities and helping them gain a deep understanding of the market is an effective way to help the industry recover when the external economic environment lacks stability.