Justin Sun promises to make HT a decentralized meme token

The CEO of the HTX exchange has made a groundbreaking announcement stating that they will soon burn 20 million HT tokens, equivalent to a staggering $50 million. Following this procedure, the HT tokens will transform into decentralized meme tokens, as declared by the business tycoon.

Providing further clarity, Justin Sun mentioned that once the burning program concludes, only 110 million HT tokens will remain in circulation. This move will effectively decentralize the asset, eliminating any external control, as assured by the head of HTX.

The HTX exchange, previously known as Huobi, had unveiled the Exchange DAO (HTX) program in January. As part of this initiative, platform users are entitled to exchange their HT tokens for HTX through designated Exchange accounts. This token conversion process will be open until the end of January in the coming year.

Elucidating the advantages of converting HT tokens into HTX, the exchange’s blog highlights a key bonus: maker and taker orders will incur spot trading fees of just 0.1%.

Prior to this announcement, Justin Sun had expressed optimism regarding the future approval of spot Bitcoin ETFs in the United States, while also predicting that Asian markets would follow suit.