A total supply of 1.5 billion TOP Network tokens completely sold out within 19 seconds of active prime trading.
Huobi Global passed a milestone yesterday, launching a better way to provide the crypto community with access to cutting-edge projects at discounted rates. Huobi Prime went live at 21:00 (Singapore Time) on Tuesday, March 26, offering TOP, TOP Network’s native token to the first ever batch of Huobi Prime users.
The inaugural launch was met with enormous demand, with 3,764 users buying 1.5 billion TOP Tokens using Huobi Token (HT). The total supply of TOP tokens offered was sold out for all three rounds of trading, with the first round selling out of available tokens in 7 seconds, the second round in 5 seconds, and the third in 7 seconds.
“While we knew Huobi Prime’s inaugural launch of TOP would be popular, even we were amazed by the overwhelming response,” said Ross Zhang, Head of Marketing for Huobi Group. “We were thrilled to hold our opening launch with our great partners at TOP Network and we are humbled and honored by how many people wanted to take part.”
TOP has now been fully listed – and is freely tradable – on Huobi Global in the form of TOP/HT, TOP/BTC, TOP/USDT.
Acknowledging that only about 3% of the 130k participants were able to purchase TOP as a result of the overwhelming demand by some users, Zhang said that plans are already underway to implement improvements for future Prime launches. “We hear your concerns and we’re already working on ways to address them,” he said. “Our goal remains making Huobi Prime the premier place to access premium coins for the broader crypto community, not just the few.”
Zhang also addressed concerns about the verification slider Huobi requires users to use to complete purchases. “The slider is an anti-script and anti-bot safety mechanism and it is one of the standard methods we use to ensure trading is fair and equitable. We’ve found it to be quicker and easier than the more common CAPTCHA method but we will evaluate it as we continue to improve the user verification experience.”
Highlights of TOP Launch:
Total participants: 130,000 (Approx.)
Total numbers of people who bought TOP: 3,764
Percentage Increase For TOP: 505.8% (as calculated from the 1st round of Prime to 12AM)
Ceiling Price for TOP in Each Round:
First Round: 1 TOP=0.000708 HT
Second Round: 1 TOP=0.000852 HT
Third Round: 1 TOP=0.001020 HT
TOP Sold (Overall Total): 1,500,000,000 allocated for Prime trading (7.5% of Total Token Supply)
TOP Sold (By Round): 1st Round: 300,000,000 TOP (Sold out in 7 secs) / 2nd Round: 450,000,000 TOP (Sold out in 5 secs), 3rd Round: 750,000,000 TOP (Sold out in 7 secs).
About Huobi Prime:
As a coin trading platform, Huobi Prime is a significantly new innovation and offers a number of key advantages, including:
All coins purchased through Huobi Prime are immediately deposited into user’s accounts and are tradable on Huobi Global against Huobi Token (HT), our native token. No need to wait for presales or similar delays.
Rigorous screening and selection processes to ensure only premium projects that have yet to be listed on any major exchange are included.
Early access to coins at below market prices.
Access for both big and small players. Huobi Prime will be open to average users, not just professionals or VIPs.
In order to mitigate periods of extreme volatility when the market opens, and to reduce the risk of adverse impacts on users, there is also a period of tiered price limits.
For more information on Huobi Prime and how it works: https://bit.ly/2TPtOUW
For more information on TOP and TOP Network: https://bit.ly/2FDwaxz
About Huobi Group: Consisting of ten upstream and downstream enterprises, Huobi Group is the world’s leading blockchain company. Established in 2013, Huobi Group’s accumulative turnover exceeds US $1 trillion. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries.
Follow Ross on Twitter: @Ross_Zhang
SOURCE Huobi Group