Singapore, Singapore, 10th March 2023, Chainwire
Huobi has announced a $100 million Liquidity Fund to enhance currency liquidity across several markets. This action aims to reinforce the seamless flow of liquid assets through the Huobi platform. Huobi intends to improve cross-border transactions involving diverse digital tokens or fiat currencies worldwide by promoting greater fluidity by allocating these funds. As a crucial goal for this initiative, traders will benefit from easier access to funds as they frequently engage in buying and selling activities on exchanges.
Huobi has planned to create a liquidity fund to see $100 million US dollars deposited to improve the platform's liquidity capabilities. The announcement was made following some market turbulence caused by leveraged liquidations initiated by only a few users on the platform recently. H.E. Justin Sun regretted the consequences of a handful of users' leveraged liquidation on the market.
Furthermore, Sun pledged to enhance liquidity depth for key cryptocurrencies and HT tokens while bolstering leverage risk alerts and capacity for available funds to reassure clients who rely on them. In recognition of its responsibility towards investors, Huobi has deposited $100 million as additional funding support through a new liquidity fund initiative.
The spot and HT contract markets experienced a series of forced liquidations that resulted in recent market fluctuations. A few users triggered this cascade, which also caused leveraged liquidations to occur. Despite these events, there is no need for concern about the safety of Huobi exchange's operations or wallets since they remain secure. Furthermore, all work continues at an even pace without any unexpected incidents occurring thus far. This shows that the current fluctuations are part of normal market behavior patterns.
Huobi is making strides in enhancing its platform and user experience with a fresh liquidity fund. The objective of this investment will be to heighten the multi-currency liquidity on offer, ultimately improving ease of access for traders across global markets. This strategic move also offers advantageous positioning within Huobi's competitive cryptocurrency exchange market.
Sun empathized with Huobi users, acknowledging that the turbulent market changes have induced stress. This announcement promises to undertake measures to mitigate these fears for their benefit. Additionally, Sun reassured the community of his resolve to keep up with all developments regarding this issue and will provide regular updates on any progress made. Huobi is dedicated to ensuring its platform is secure and dependable for those engaging in cryptocurrency trades. Huobi will bear all leverage-through position losses on the platform resulting from this market volatility event of the HT token.
Huobi's efforts towards enhancing the user experience are ongoing, with continuous strides taken towards improving the platform's functioning. With additional support from its liquidity fund, Huobi looks forward to providing even more significant benefits while fortifying its presence as an esteemed hub for cryptocurrency exchange activities. Sun expressed his confidence in the actions to enhance user experience and establish a safer, dependable cryptocurrency trading platform. He believes these measures will result in more satisfied users who can easily trust the Huobi platform.
About Huobi
Founded in 2013, Huobi has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investments, incubation, and other areas. Huobi serves millions of users across international markets. Please refer to Huobi's official website for more information: www.huobi.com
Press Contact
Michael Wang
media@huobi.com
