In its second ever launch, Huobi Prime’s pioneering platform for emerging premium coins has again met with  huge demand. 17,863 users bought 2 billion NEW, the native token of Project Newton, during today’s launch. The first two rounds of price limited trading sold out in a cumulative 6 seconds of active trading time on a first-come-first served basis. In our special third round, all 16,130 users got at least some of the tokens they desired.  

“We’re deeply honoured that so many users see the same value in Prime and coins like NEW as we do,” said Ross Zhang, Head of Marketing for Huobi Group. “We’re also really thrilled to see how many users were able to gain access to the NEW they desired in our special community round.”

In addition to the launch of NEW, today’s launch brought with it a number of key changes for Huobi Prime. Driven by frustrations some users felt during our inaugural launch of TOP due to overwhelming demand  and limited supply, for example, Huobi reserved a full 50% of its supply of NEW  tokens for the special community round. Custom-designed to spread a greater number of tokens across a greater number of users via adjusted system matching, the community round helped ensure that all qualified participants got at least some of the tokens they desired. In addition, this time around Huobi also put in place a requirement that users have an average daily holding of at least 500 Huobi Token (HT) for the 30 days leading up to NEW’s launch (though shorter amounts were possible if users held larger amounts of HT) and shortened each trading round to ten minutes each.

“We’ll be carefully evaluating the impact of the community round and our other changes over the coming days,” Zhang said. “We plan to make Huobi Prime a source of ongoing innovation and improvement and, as we’ve said throughout this process, our goal remains to make it the premier place to access premium coins for the broader crypto community.”

NEW has now been fully listed – and is tradable – on Huobi Global.

 Highlights Of NEW Launch:

  • Total numbers of people who bought NEW: 17,863
  • Percentage Price Increase For NEW (From First Round To 21:00 (GMT + 8): +500%
  • Ceiling Price For NEW In Each Round:
  • First Round:  1 NEW= 0.000725 HT
  • Second Round:  1 NEW= 0.000870 HT  
  • Third Round:  1 NEW= 0.001043 HT
  • NEW Sold (Overall Total): all 2,000,000,000 NEW allocated for Prime trading (2.0 % of Total Token Supply)
  • NEW Sold (By Round): 1st Round:  400,000,000 NEW / 2nd Round:  600,000,000 NEW /
  • 3rd Round: 1,000,000,000  NEW

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, we have also added a period of tiered price limits.

For more information on NEW and Newton Project: https://www.newtonproject.org/

Disclaimer: Huobi Prime will not, under any circumstances, make price forecasts or representations as to the asset’s investment characteristics. Huobi Prime will not provide any trading or financial advice and Huobi Prime users should conduct independent analysis including, where appropriate, taking third party legal, tax and financial advice.  Huobi Prime is limited to users from jurisdictions where digital asset trading is a permissible activity and no regulatory restrictions apply.

Posted by Editor